Sojitz pumps EUR25 mn into Hycamite for methane pyrolysis-hydrogen output
Finnish methane pyrolysis technology Hycamite TCD Technologies has received an investment from Sojitz Group and Stephen Industries. Sojitz Group is a Japanese conglomerate with approximately 400 subsidiaries and affiliates in Japan and worldwide. Stephen Industries is a family-owned Finnish company. The Finnish Climate Fund and existing and first external investors HAI Kapital, Holdix, and Turret have also decided to invest in Hycamite. New and existing investors are investing EUR25 million towards Hycamite’s innovative technology for decarbonising industry.
“The investment makes it possible to scale our technology to launch the production on the commercial scale. We will serve our clients in North America, Japan and Europe,” said Laura Rahikka, CEO/Founder of Hycamite.
Hycamite decarbonises industry through its low-carbon hydrogen and provision of sustainable carbon products for demanding industrial applications. Hycamite technology decomposes large volumes of methane into its component elements: hydrogen and carbon. The TCD technology developed by Hycamite does not release greenhouse gas emissions into the atmosphere. Furthermore, its catalysts are sustainable. The company’s technology requires only 13% of the energy needed to produce hydrogen by electrolysis.
Using methane as feedstock allows hydrogen production to be scaled rapidly. Hydrogen can be produced from methane from natural gas, biomethane or synthetic methane. With Hycamite’s technology, the petrochemical industry’s side streams can also be used as raw material. If biomethane or e-methane made with ambient CO2 were used as feedstock, the resulting hydrogen would be carbon negative.
“Sojitz strives to realise a decarbonised society through its business activities, and this capital tie-up with Hycamite is strategically important to our company. Hycamite’s revolutionary zero-emission hydrogen technology can contribute to the decarbonisation of diverse industries and thus represents a promising choice for the future. We aim to provide new value to the industrial sector through businesses that utilise this technology. Sojitz will leverage its expertise and global networks as it partners with Hycamite to expand society’s use of zero-emission hydrogen and conduct marketing for carbon products,” said Taro Okamura, COO of Sojitz Chemicals Division.
Hycamite’s technology is a cutting-edge carbon capture, utilisation and storage (CCUS) technology. Hydrogen can be used as either industrial raw material or fuel, and Hycamite’s carbon nanoproducts lend themselves to versatile applications, including Li-ion batteries, concrete, composite materials, and filter purifiers.
Hycamite is a privately-owned company headquartered in Kokkola, Finland. Its methane pyrolysis technology is based on long-standing research in applied chemistry from the University of Oulu, Finland.
