# METLEN Energy & Metals

METLEN Energy & Metals (formerly known as MYTILINEOS Energy & Metals) is a global industrial and energy company operating two business Sectors: Energy and Metallurgy that are highly interconnected and complementary, enabling synergies that unlock hidden value for the Company and significantly amplify its performance. The Company is strategically positioned at the forefront of the energy transition, while already established as a reference point for competitive green metallurgy at the European and global level. It has a consolidated turnover and EBITDA of €5,492 million and €1,014 million, respectively.

## History

The company was founded as MYTILINEOS Group in Greece in 1990, as an evolution of the old metallurgical family business that had been operating since 1908. In 1995, it was listed on the Athens Stock Exchange, while participating in the FTSE 25 high capitalization index. In 2017, the parent company absorbed its subsidiaries (Aluminium of Greece, METKA, Protergia), forming a large-scale industrial and energy multinational company, which multiplied its size, expanded its activities to all five continents, and improved its credit rating. In 2022, the new corporate transformation created MYTILINEOS Energy & Metals, an even more dynamic and flexible company, geared towards the energy transition and digital transformation trends, based on sustainable development and circular economy. In 2024, the company initiated a dynamic new chapter in its evolution by rebranding and updating its corporate identity to METLEN Energy &amp; Metals.
This significant milestone reflects the company&#39;s unwavering commitment to growth, innovation, and a global presence, and its further internationalization and extroversion of its activities. In the Energy Sector, METLEN is the largest Greek private company, active in the entire spectrum of energy.
It constitutes an integrated energy utility at international level, from the development, construction and operation of thermal units and RES projects, design, and construction of electricity infrastructure projects, to the retail supply of electricity and natural gas, supply and trading of natural gas and the provision of competitive energy products and services (energy efficiency and integration, smart cities services and hydrogen projects etc.).
The Company’s structure now includes five new activities: M Renewables where the entire renewable energy portfolio is consolidated, M Energy Generation &amp; Management for the management of generation and power plants, M Energy Customer Solutions or retail supply of energy and natural gas as well as new retail products and services, M Integrated Supply &amp; Trading for B2B customers and M Power Projects for conventional electricity generation projects, energy transition projects etc. METLEN is also a leader in the Metals industry. Operating the only vertically integrated bauxite, alumina, and primary aluminium production unit across the EU with privately owned port facilities and the largest electricity cogeneration unit, METLEN (previously known as MYTILINEOS) has dynamically entered the sector of recycled aluminium and zinc-lead recycling. In 2023, the company acquired IMERYS BAUXITES GREECE, solidifying its position as the largest producer of bauxite in Europe.
The new structure of the industry includes the [EXTERNAL PERMITTED] following: Delphi-Distomo producer of bauxite, the Aluminium of Greece plant with an annual production capacity of over 190,000 tonnes of aluminium and 860,000 tonnes of alumina, EP.AL.ME, which is the biggest independent producer of recycled aluminium (recast), the Volos plant for heavy and composite metal structures and the Sometra plant for the metallurgy of lead and zinc. METLEN, underlining its commitment to sustainability, became the first Greek, in 2021, company setting solid targets and being committed to minimizing its carbon footprint, paving the way for a greener and more environmentally friendly industry, according to ESG performance indices for Environment, Society and Governance.
In particular, METLEN has pledged to minimize its carbon footprint, aiming to reduce its total direct and indirect CO2 emissions by at least 30% by 2030, compared to 2019 levels, while by 2050 the Company is committed to achieving net zero emissions across its entire business activity. In line with its tangible efforts to promote sustainable development, it has announced its participation in the global Science Based Targets initiative (SBTi) and has joined the Dow Jones Sustainability Index.

## Metallurgy

In January 2025, METLEN announced a €295.5 million investment to enhance its production capabilities in bauxite, alumina, and gallium. This project aims to increase annual production to approximately 2 million tonnes of bauxite and 1,265,000 tonnes of alumina, up from the previous 865,000 tonnes. The initiative will introduce an annual production of 50 metric tonnes of gallium, marking the first time this critical material is produced industrially in Europe.
To secure its raw material supply chain, METLEN has signed two long-term agreements with Rio Tinto. The first agreement will see Rio Tinto supplying approximately 14.9 million tonnes (mt) of bauxite from the CBG mine in Guinea to METLEN over an 11-year period, from 2027 to 2037, while the second pertains to alumina offtake, under which METLEN will supply Rio Tinto with 3.9mt of alumina, sourced from its expanded Agios Nikolaos refinery, over an eight-year period, starting in 2027.