The capital raised will be used for the imminent opening and ramp up of its next generation catalyst and electrode factory in Paterna, which will enable Matteco to produce the equivalent of 1 gigawatt (GW) of electrodes per year.
The company, led by Iker Marcaide as CEO and co-founder, will increase its production capacity to meet the growing demand by integrating its next generation catalysts and electrodes with alkaline and AEM electrolyzer manufacturers worldwide. Matteco already 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. 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.
The closing of Series A and the entry of new partners with strong industrial and financial standing confirm Matteco's high potential in the clean technology and renewable hydrogen industry.
Iker Marcaide, co-founder and CEO of Matteco, said, “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 is thus consolidating its global position as a manufacturer of high-performance materials for decarbonization. “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.
