Matteco funding news – Paterna-based Matteco Raises €15Million in a Series A Round Funding

Capital utilisation

The funding will be used to open and scale up a new factory in Paterna, Valencia, which will produce enough electrodes for 1 gigawatt (GW) of power each year.

Led by CEO and co-founder Iker Marcaide, Matteco aims to meet the growing demand for its innovative catalysts and electrodes, which are used by electrolyzer manufacturers around the world. The company already has customers in Europe, North America, and Asia.

Matteco Growth Plan

As production increases, Matteco plans to grow its team from 30 to 100 employees by 2025. The funds will also help the company improve its production processes and stay at the forefront of clean technology, helping to build a strong European industry focused on a decarbonized economy.

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Iker Marcaide, co-founder and CEO of Matteco: “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.”

Gonzalo Abellán, co-founder and CTO said, “Our patented technology, built on more than 10 years of R&D, has a significant impact on the competitiveness of green hydrogen production, In this context, its novel platinum-free materials (PGMs) offer best-in-class performance for electrolyzers by enabling lower energy consumption, higher current densities and superior stability and durability, revolutionizing the efficient production of green hydrogen and addressing the global industry’s grand challenge: to significantly reduce the currently high production costs, both in terms of operations and equipment investment, to compete with and displace fossil fuels."

About Matteco

Matteco's mission is to decarbonize the economy and support the energy transition, starting with solutions for producing renewable hydrogen. The company focuses on developing high-performance catalysts, coatings and electrodes essential for producing green hydrogen through electrolysis.