Catator AB, a Swedish cleantech company specializing in catalytic reforming of fuels for fuel cell power generation, announces a significant purchase order from a major defense customer. The initial order, to be delivered in 2026 and 2027, is a continuation of ongoing program that advances the project into full engineering development and is expected to be followed by subsequent phases targeting military deployment in the 2030s.
The technology being developed in this program, reforming NATO logistics fuel for silent fuel cell power generation, addresses a rapidly expanding set of defense applications where silent and efficient power is operationally critical.
The order follows the successful completion in 2025 of an initial development project with the customer, in which Catator demonstrated the integration of its reforming technology with fuel cells for silent power generation against the customer's technical and operational requirements. This new order advances the program into next phase of engineering development and demonstration.
Tarras Delin, CEO of Catator AB, commented:
“This order is a major validation of our reforming technology for NATO logistics fuels and of our team at Catator that delivered the initial project on time and to specification in close collaboration with our customer. Defense is one of our three priority market segments, and this program positions Catator as a qualified supplier for mission-critical fuel reforming at scale. It also provides a strong revenue foundation underpinning our 2026 and 2027 targets and our planned Nasdaq First North listing.”
Strategic significance
Catator is planning to IPO on Nasdaq First North in the second half of 2027, and this order materially strengthens the company's position ahead of that listing. The order adds to an already growing order backlog, supporting the company's financial targets for 2026 and 2027 and providing further revenue visibility anchoring the investment case.
Defense budgets across NATO member states are rising sharply in response to the current geopolitical environment, and the demand for capable, deployable power solutions is growing with them. This order further establishes Catator as a qualified supplier to the defense sector, providing credibility and an important reference customer in a rapidly expanding market.
