Hycamite announced that it has secured a total of €44 million in a two-step series A investment from a group of high-quality strategic and financial investors. The second part of the series was closed to initiate the operations of the company’s industrial-scale demonstration unit. The investment round was led by Sojitz Group, with existing investors Holdix Oy, Turret Oy, and Stephen Industries Oy also participating. New investors OMV Petrom and MOL PLUS joined the investment. OMV Petrom – as part of the broader OMV Group of companies – is the largest integrated energy producer in Southeast Europe, active along the entire energy value chain. MOL PLUS is a corporate VC company wholly owned by Mitsui O.S.K. Lines, Ltd., one of the world’s largest shipping companies. Some private investors and staff members joined the investment round.
Hycamite produces low-carbon hydrogen and industrial-quality solid carbon by splitting methane using proprietary zero-emission technology. The technology is based on methane molecules’ thermo-catalytic decomposition (TCD) – breaking the methane with catalysts and heat. Hycamite technology uses only 13% of the energy required to produce hydrogen through electrolysis. As a cutting-edge carbon capture, utilization, and storage (CCUS) technology, the Hycamite solution creates carbon sinks. It produces industrial-quality carbon – such as graphite – for demanding applications, such as Li-ion batteries, composite materials, and filter purifiers.
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Press release https://tinyurl.com/4w2kzuzx
