Spain’s Matteco secures €15M to expand production of advanced materials for green hydrogen: Know more

Paterna-based Matteco, a Spanish advanced materials company, has secured €15M in a Series A funding round.

The investment, supported by national and international family offices such as Grupo ASV (Spain), Napali (Chile), and Zubi (Spain), aims to help the company develop solutions that support decarbonisation and improve renewable hydrogen competitiveness.

Capital utilisation

Matteco will use the funds to open and expand a next-generation catalyst and electrode factory in Paterna, Valencia. This facility will produce up to 1 gigawatt (GW) of electrodes annually. 

Led by CEO and co-founder Iker Marcaide, the company aims to meet growing global demand for its advanced catalysts and electrodes, which are used with alkaline and AEM electrolysers. The company already serves customers in Europe, North America, and Asia.

Matteco also plans to expand its team from 30 to 100 employees by 2025 as it scales up production. The funds will support innovation and process optimisation, helping the company stay at the edge of clean technology.

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

“Our patented technology, built on more than 10 years of R&D, has a significant impact on the competitiveness of green hydrogen production,” adds Gonzalo Abellán, co-founder and CTO.

New materials for a better future

Matteco, a spin-off from the University of Valencia and part of Zubi Labs, is a materials technology company focused on decarbonising the economy through green hydrogen production.

The company claims that its novel platinum-free materials (PGMs) offer top performance for electrolysers by reducing energy use, increasing current density, and providing greater stability and durability. 

These advancements make green hydrogen production more efficient and help tackle the global challenge of lowering high production costs, both in operations and equipment, to better compete with fossil fuels.