Metacon reports Q3 losses amid project cost overruns
Swedish hydrogen technology firm Metacon posted a net revenue of SEK 34.5 million for the third quarter of 2026, as operational costs in major projects impacted bottom-line earnings.
Metacon’s third-quarter interim report reveals a decline in net revenue to SEK 34.5 million, down from SEK 40.9 million in the same period last year. The company’s operating profit reached SEK -29.5 million, reflecting intensified spending on large-scale infrastructure projects.
CEO Christer Wikner attributed the earnings shortfall to unforeseen costs in a major project, citing extreme time pressure to meet client funding deadlines as the primary driver. In response to financial performance, the company announced plans to reduce fixed costs by approximately 35 percent starting in January 2027.
Despite the financial strain, Metacon has continued its technological expansion, launching a 20 MW electrolysis module and new pressurized alkaline electrolyzer stacks developed with China-based partner PERIC. Additionally, the company has secured several EU research grants and a grant from Sweden’s Klimatklivet for a 10 MW facility in Uppsala.