In the Netherlands, Offshore Energy reported that Spanish company Matteco has closed a $16.3 million Series A investment round backed by a group of national and international family offices, including Grupo ASV (Spain), Napali (Chile) and Zubi (Spain), with the aim of boosting the production of its materials for green hydrogen.
The report noted that the capital raised will be used for the imminent opening and ramp-up of Matteco’s catalyst and electrode factory in Paterna, Valencia, which is expected to enable the company to produce the equivalent of 1 gigawatt (GW) of electrodes per year.
Matteco said it will increase its production capacity to meet the growing demand for integrating its catalysts and electrodes with alkaline and AEM electrolyzer manufacturers worldwide. Matteco has customers in Europe, North America and Asia.
The growth and scale-up of production will grow the current team from 30 to 100 in 2025, Matteco revealed, adding that the funds will also contribute to further innovation and optimization of production processes “to remain at the technological forefront of the clean technology sector and help build a competitive European industry leading the transition to a decarbonized economy.”
Gonzalo Abellán, co-founder and CTO of Matteco, noted: “Our patented technology, built on more than 10 years of R&D, has a significant impact on the competitiveness of green hydrogen production.”
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Tags: hydrogen, Matteco, Spain
Category: Fuels
