What Metricon does

Metricon S.A. is a privately held Greek engineering company founded in 2009 and headquartered in Rio, Patras, that designs and manufactures proprietary measurement, calibration, and monitoring systems primarily for the fuel industry. Its core product portfolio centers on four commercialized offerings: the MPS Flowmeter (ultrasonic electronic fuel meter with 0.5% measurement accuracy, GPS integration, and air/water detection), MetriLOCK (Zigbee-based wireless surveillance system for fuel tankers with five-year battery life and fleet tracking), VapourGuard (ATEX-certified automated system for Stage I vapor recovery compliance under Greek Law 4439/2016), and Thermometricon (contactless infrared body temperature screening). The company also operates an ISO/IEC 17025 accredited calibration laboratory offering two service lines: MetriMASS (mass and balance calibration for weighing instruments from 5kg to 60 tonnes, conducted on-site) and MVS (mobile automated tank volumetric calibration using gravimetric methods for tanks from 0.5 to 100m³).

The company's technology stack is fully vertically integrated, with all firmware and software developed in-house using C, C++, Java SE/Java EE, Rust, and Go, supporting ultrasonic, gravimetric, Zigbee wireless, and spectroscopic measurement modalities. Most products hold international patents, and the company holds ISO 9001:2015 quality certification, ATEX product certification, OIML R 117-1 C certification (via Czech Metrology Institute), and SOLAS VGM compliance. The business model is B2B enterprise sales combining proprietary hardware product sales with recurring accredited calibration services delivered via mobile workshops that travel to client sites. Go-to-market is direct enterprise sales targeting oil and fuel companies, fuel station operators, tanker fleet operators, and port organizations, with long-standing partnerships with the largest oil companies in Greece and abroad. The company also conducts funded R&D projects in adjacent areas including spectroscopic fuel analysis (Pearl Project), gravimetric pump calibration (Metrical), soil sampling for agriculture (SoilSYS), and battery optimization (SimTank), in collaboration with the University of Patras, the Institute of Technology and Research, and the National Institute of Metrology.

Name

Metricon

Legal name

METRICON S.A.

Website

https://metricon.gr

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Metricon S.A. is a Greek engineering company that designs and manufactures proprietary measurement, calibration, and monitoring systems — including ultrasonic fuel flow meters, wireless tanker surveillance, and vapor recovery systems — for oil companies, fuel station operators, and port organizations, complemented by ISO 17025 accredited mobile calibration services.

Ownership category

akta.pro rank

Product category

Fuel Measurement and Calibration Equipment

NAICS

Other Measuring and Controlling Device Manufacturing (334519), Totalizing Fluid Meter and Counting Device Manufacturing (334514)

SIC

Industrial Instruments For Measurement, Display, And Control (3823), Totalizing Fluid Meters & Counting Devices (3824), Measuring & Controlling Devices, Nec (3829)

akta.pro primary industry

Calibration Services & Standards (Calibration labs, reference standards, traceability services) (IMAGAFAH)

akta.pro secondary industries

Metering Equipment Testing, Calibration & Certification (EUAJAKAA), Weighing & Force Measurement (Load cells, scales, torque, strain measurement) (IMAGAFAF), Metering, Calibration & Flow Measurement Verification (EUAEAHAM)

Keywords

• Fuel measurement systems
• Tank calibration services
• Ultrasonic flow meters
• Vapor recovery monitoring
• Metrology equipment

Headquarters

HQ city

Patras

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Product Sales: Sale of proprietary measurement and monitoring devices including MPS Flow Meters, MetriLOCK systems, VapourGuard units, and Thermometricon devices. Products are designed, developed and manufactured in-house by Metricon.
2. Calibration Services: Accredited laboratory services for tank calibration (MVS system) and mass/weight calibration. Services delivered through mobile workshops that travel to client sites, covering over 1,200 fuel stations and 500 tanker vehicles.
3. R&D and Custom Solutions: Research and development projects in collaboration with universities and research institutions, potentially including custom engineering solutions for specific client requirements.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Metricon designs, develops, and manufactures proprietary measurement, monitoring, and calibration hardware and software primarily for the fuel industry. Its portfolio includes ultrasonic fuel flow meters (MPS), wireless tanker surveillance systems (MetriLOCK), Stage I vapor recovery monitoring (VapourGuard), and infrared body temperature measurement (Thermometricon), complemented by accredited tank and mass calibration laboratory services delivered through mobile workshops to client sites.

Product overview

Metricon is a Greek software and hardware company (active since 2009) that develops specialized products and systems for the fuel industry and other technological sectors. The company's product portfolio centers on four core offerings: MetriLOCK (wireless surveillance system for tankers), Thermometricon (infrared body temperature measurement), MPS Flowmeter (ultrasonic fuel measurement), and VapourGuard (vapor recovery monitoring for fuel stations). These products are complemented by two accredited calibration services (Mass Calibrations and Tank Calibration via the MVS system). The company also conducts R&D on emerging technologies including spectroscopic fuel analysis (Pearl Project), barometric pump calibration (Metrical), soil sampling systems (Soilsys), and energy optimization (SimTank). All products incorporate proprietary firmware and software developed in C, C++, Java, Rust, and Go, with international patents covering most offerings.

Differentiator

Problem solved

Functional benefit

Brands

• MetriLOCK: Integrated surveillance system consisting of electronic sensors of wireless technology and a central unit for receiving and sending signals. Designed for tanker, container, and ship asset management and fleet tracking.
• Thermometricon
• MPS Flowmeter
• VapourGuard
• MetriMASS
• MVS (Mobile Volumetric System)

Products and services

• MetriLOCK Integrated wireless surveillance system for fuel tankers, consisting of electronic Zigbee sensors and a central receiving/sending unit. Monitors sealing points on tankers, tracks fleet location via GPS, and detects unauthorized access or route deviations with automatic alerts. Features 5-year battery life. Designed for oil companies, fuel transporters, and tanker fleet operators.
• Thermometricon
• MPS Flowmeter
• VapourGuard
• Mass Calibrations (MetriMASS)
• Tank Calibration (MVS)

Quantifiable outcome

• 350+ MetriLOCK systems installed and trusted by major oil companies by 2022
• +6 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature8 records

Partnerships

Six partnerships are on record, tiered core and minor.

• University of PatrascoreStrategic or Co-development Partner · 1 January 2009Metricon collaborates with various departments of the University of Patras for research and development activities. This partnership supports innovation in firmware development and provides access to academic expertise in technology and research, contributing to the company's creative process and technological advancement.
• Institute of Technology and Research (ITR)coreStrategic or Co-development PartnerCollaboration with ITR for technological research and development projects. The partnership enhances Metricon's R&D capabilities and provides technical expertise for innovation in metrology and measurement technologies.
• National Institute of Metrology (NIM)coreStrategic or Co-development PartnerPartnership with the National Institute of Metrology (EIM in Greek) for calibration standards and metrology expertise. Provides traceability to Greek and International Standards (SI) for calibration certificates and ensures compliance with international measurement standards.
• Scale and Weighing Instrument ManufacturersminorImplementation/ SI/ Consulting PartnerCooperation with the largest manufacturers of weighing instruments in Greece for calibration adjustment services. Allows Metricon's laboratory staff to perform instrument adjustments where necessary during calibration visits.
• Technological Educational Institution of Western GreeceminorStrategic or Co-development PartnerCollaboration with the Technological Educational Foundation of Western Greece (TEI of Western Greece) Dept. of Agricultural Technicians for the SoilSYS research project focusing on soil analysis and agricultural optimization.
• HubCap Program (Digital Innovation Hubs)minorStrategic or Co-development PartnerParticipation in the HubCap program providing services and technical expertise from seven Digital Innovation Hubs for SMEs to experiment with Model-Based Design technology in Cyber Physical Systems. SimTank project implemented under this framework.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Mettler-Toledo: Global leader in precision weighing instruments and calibration services across industrial and laboratory applications. Directly comparable to Metricon's MetriMASS mass/weight calibration services for fuel stations, ports, and exporters.
• Endress+Hauser: Global leader in industrial process measurement instrumentation, including flow, level, pressure, and analytical measurement. Directly comparable to Metricon's MPS Flowmeter and calibration service lines but at vastly greater scale and global reach.
• Emerson (Rosemount): Major industrial measurement and control provider via its Rosemount brand, covering flow, pressure, level, and tank gauging. Highly comparable to Metricon's tank calibration and ultrasonic flow metering offerings for oil and gas customers.
• Honeywell Process Solutions: Provides industrial process measurement, safety, and asset management solutions to oil and gas customers. Overlaps with Metricon's VapourGuard (process safety) and MetriLOCK (asset surveillance) product lines for fuel retail and transport.
• Siemens Industrial Measurement: Broad industrial automation and process instrumentation portfolio including flow meters, calibration services, and process analytics. Comparable to Metricon's end-to-end fuel measurement and calibration stack, but at enterprise scale.
• Yokogawa Electric: Provides industrial flow meters, level instruments, and process calibration solutions to oil, gas, and chemical customers. Overlaps with Metricon's ultrasonic MPS Flowmeter and tank calibration offerings in similar end markets.

Direct peers

• Bronkhorst: Specialist in low-flow measurement and calibration equipment for gases and liquids, with strong fuel and chemical industry penetration. Comparable to Metricon's MPS Flowmeter in fuel flow metering with similar focus on accuracy and custom solutions.
• VEGA Grieshaber: Specialist in level, pressure, and point level measurement sensors for process industries including oil and gas, water, and chemicals. Comparable to Metricon's tank calibration and level measurement offerings for fuel storage applications.
• Bürkert Fluid Control Systems: Manufacturer of measurement and control systems for fluids and gases, including flow meters and analytical instruments. Comparable to Metricon's fuel measurement, metering, and quality monitoring product portfolio.

Emerging players

• Axis Communications: Provider of network video surveillance and asset monitoring solutions for industrial and transportation applications. Conceptually comparable to Metricon's MetriLOCK wireless tanker surveillance system, though from a different technology lineage (video vs. Zigbee wireless).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metricon