Metacon AB’s Acquisition of a Majority Stake in Botnia Hydrogen AB
On 5 January 2026, Metacon AB, a Swedish energy‑technology company listed on the Swedish Stock Exchange, increased its ownership of Botnia Hydrogen AB through a share issue by set‑off. The transaction involved the subscription of 43 250 shares at a subscription price of 231.2 SEK per share, resulting in a total consideration of approximately 10 million SEK. The shares were acquired by offsetting a receivable that Metacon previously held from Botnia.
Prior to the transaction, Metacon held 21.6 % of Botnia Hydrogen’s shares. After subscribing to the additional shares, its stake increased to 60.8 %. Consequently, Metacon became the majority shareholder and will financially consolidate Botnia Hydrogen as a subsidiary of its group. Botnia Hydrogen owns and operates production units and refuelling stations for green hydrogen in Sweden, with two electrolyzers that supply fossil‑free hydrogen to the transport sector.
The share issue by set‑off is a common mechanism for expanding ownership while reducing the debt position between the parties. By converting the receivable into equity, Metacon has strengthened its strategic position in the emerging hydrogen market and reinforced its portfolio of renewable energy technologies.
The move aligns with Metacon’s focus on commercializing and distributing energy systems for hydrogen, electricity, and heat production across commercial, residential, industrial, and transport sectors in Sweden. The transaction is expected to enhance Metacon’s influence over Botnia Hydrogen’s operations and future development plans in the green hydrogen space.
