Matteco, a promising entity in the field of advanced materials, has secured significant financial backing to further its efforts in promoting sustainable energy solutions. The Spain-based company, known for its innovative approaches to hydrogen production, has gained a €15M investment from various national and international family offices. This funding is aimed at advancing Matteco’s initiatives to enhance decarbonization processes and improve the competitiveness of renewable hydrogen. By focusing on sustainable energy, the company aims to address pressing environmental challenges while simultaneously expanding its operational capabilities.
In earlier developments, Matteco had been striving to streamline its operations and improve the efficiency of its materials, which are vital in green hydrogen production. The company has consistently aimed to optimize its patented technology to make it more competitive against fossil fuel alternatives. This new funding marks a significant step toward increasing production capabilities and refining technological processes, building on their longstanding research and development efforts.
How Will the Capital Be Utilized?
The newly acquired funds will be directed toward establishing an advanced factory in Paterna, Valencia, dedicated to producing catalysts and electrodes. Expected to yield up to 1 gigawatt of electrodes annually, this facility will cater to the increasing global demand. These products are crucial components in alkaline and AEM electrolysers, which play a vital role in green hydrogen production. The expansion reflects Matteco’s commitment to meeting escalating market needs and enhancing its presence in Europe, North America, and Asia.
What Role Does the Team Play in Company Expansion?
Matteco plans to expand its workforce significantly, growing from 30 to 100 employees by 2025 to support its increased production levels. This strategic hiring will not only bolster the company’s production capabilities but also enhance innovation and process optimization efforts. The expansion aligns with the company’s aim to remain at the forefront of clean technology development. CEO and co-founder Iker Marcaide underscored the importance of partnerships that are rooted in impact investing, which will play a crucial role in scaling operations effectively.
“We look forward to this new phase of growth and scaling up with partners who strongly believe in impact investing so that together we can harness the potential of materials innovation to solve the environmental challenges we face.”
Matteco, originating as a spin-off from the University of Valencia and part of Zubi Labs, emphasizes its commitment to decarbonizing the economy through green hydrogen production. The company’s patented, platinum-free materials aim to enhance the efficiency of electrolysers by improving energy use, current density, and durability. These advancements are pivotal in reducing operational and equipment costs, positioning green hydrogen as a viable alternative to fossil fuels.
“Our patented technology, built on more than 10 years of R&D, has a significant impact on the competitiveness of green hydrogen production,” stated Gonzalo Abellán, co-founder and CTO.
The developments at Matteco mark a significant movement towards more sustainable solutions in energy production, highlighting the necessity of continued innovation in materials technology. Advancements in hydrogen production technology are essential for reducing reliance on fossil fuels and achieving long-term environmental goals. With its ongoing research and strategic funding, Matteco is positioned to make a substantial impact in the field of renewable energy.
