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2020-11-26

Metacon AB: Helbio signs agreement with Pherousa

Metacon's subsidiary Helbio today announced that they signed an agreement with Pherousa encompassing construction and delivery of a pilot size ammonia cracker unit for hydrogen production with the capacity of 10 kW. Helbio will be paid by way of a 10% shareholding in Pherousa Green Technologies AS. The shares will be registered in Helbio Holdings SA. The total value of the unit that will be delivered is in the vicinity of EUR 150,000.

Pherousa is developing a solution for emission free deep-sea shipping. Pherousa is developing a flexible hydrogen propulsion system by solving the challenge of hydrogen storage capacity. Both ammonia and hydrogen can be used as fuels which gives the shipowners the opportunity to select the type of fuel. What differentiates Pherousa's solution from other zero-carbon and carbon dioxide capture solution is that the whole value chain of fuel: from production to bunkering and utilization with focus on flexibility and what is feasible today is taken into consideration.

Based on the agreement, Pherousa will have exclusive licensing on ship applications while Helbio on all other applications. Helbio will be the provider of all units to be installed on ships or elsewhere.

"We're excited to supply Pherousa with an ammonia cracker unit for hydrogen production in exchange for an ownership in Pherousa, together developing cracking to hydrogen on board a vessel which can help shipowners to reduce investment risk when installing propulsion systems to be carbon free. ," said Xenophon Verykios CEO, Helbio.

 

For further information, please contact CEO Christopher Tornblom, phone +44 7827 509544 or e-mail info@metacon.se

This information is information that Metacon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:30 CET on November 26, 2020.

About Metacon AB (publ)

Metacon AB (publ) is an international energy technology company. It offers patented technology for cost efficient and environmentally friendly production of hydrogen, through a catalyst process, for the transportation, industrial, commercial- and residential real estate sector.

 

Additional information may be found at https://metacon.se | Twitter: @Metaconab| LinkedIn: https://www.linkedin.com/company/metaconab
 

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