Here are Lucas’s comments regarding the recent press release. ![]()
Metacon announced on Thursday that it has been granted a subsidy of up to SEK 111 million from Klimatklivet for the construction of a 10 MW electrolysis plant in Uppsala. In our view, the project strengthens the long-term investment case, as a concrete, full-scale reference plant operating under real market conditions acts as an effective sales catalyst in the electrolyzer business, while the favorable financing structure keeps Metacon’s capital commitment manageable. However, it does not lead to immediate changes in our short-term revenue or earnings forecasts, as commissioning is expected to take place in 2029. Furthermore, our current medium- and long-term forecasts already include significant earnings growth, and we therefore believe this announcement supports our existing estimates.