Climate Insider Brief:
- Finland-based Hycamite TCD Technologies raised €44 million in a two-step Series A funding round, led by Japan’s Sojitz Group, with new investors OMV Petrom and MOL PLUS joining existing backers.
- Hycamite’s thermo-catalytic decomposition (TCD) technology produces low-carbon hydrogen and industrial solid carbon, using 87% less energy than electrolysis.
- The company is commissioning an industrial-scale demonstration unit in Finland to validate the commercial readiness of its technology.
Finland-based Hycamite TCD Technologies, a pioneer in methane-splitting technology for low-carbon hydrogen and carbon products, has raised €44 million in a two-step Series A funding round. The investment, aimed at advancing industrial-scale operations, reflects growing interest in scalable and efficient decarbonisation solutions.
Strategic Partnerships Propel Growth
The funding round was led by Japan’s Sojitz Group, with participation from existing investors Holdix Oy, Turret Oy, and Stephen Industries Oy. New investors included OMV Petrom, part of the OMV Group, and MOL PLUS, a corporate venture capital firm owned by Mitsui O.S.K. Lines.
Koji Aonuma, General Manager of Energy Transformation at Sojitz, underscored the importance of the partnership:
“Sojitz Corporation has made an additional investment in Hycamite to promote the practical implementation of innovative methane-splitting technology, a solution in increasing demand. As the largest shareholder of Hycamite, Sojitz will leverage its expertise and global networks to further accelerate the development of businesses related to clean hydrogen and high-performance carbon products.”
A Breakthrough in Hydrogen Production
Hycamite’s proprietary thermo-catalytic decomposition (TCD) technology produces clean hydrogen and industrial-quality solid carbon by splitting methane. This process is energy-efficient, requiring just 13% of the energy needed for hydrogen production via electrolysis.
The company’s technology supports carbon capture, utilisation, and storage (CCUS), offering modular, cost-effective solutions for decarbonisation. By partnering with industrial companies, Hycamite builds plants near natural gas-consuming facilities, enabling rapid deployment using standardised technology and existing infrastructure.
Hycamite’s CEO and co-founder, Ms. Laura Rahikka, highlighted the significance of the investment:
“With this important investment, we will be able to reach an important milestone for industrial scaling and take the engagement with our end customers to a completely new and concrete level. We are very pleased with the expanding global interest in our technology and the firm investor support and enthusiasm of our existing and new shareholders. I can assure our stakeholders that the best is yet to come.”
Investor Insights
New investor OMV Petrom views the partnership as a key step in advancing clean energy solutions. Franck Neel, Executive Board Member of OMV Petrom, commented:
“This partnership with Hycamite will provide OMV Petrom access to advanced clean energy solutions. By investing in innovative technologies, we are unlocking new ways to transform natural gas into a cleaner fuel, aligning with our vision for a sustainable energy future.”
Takuya Sakamoto, CEO of MOL PLUS, shared a similar sentiment:
“Through our discussions with Hycamite, we are interested in the Turquoise Hydrogen segment, and we strongly feel the potential for collaboration in the direction of utilising LNG for vessels, leading us to make this investment and business alliance. It is a significant challenge of verifying its application to vessels, but we are committed to the success of this challenge, along with the other shareholders of Hycamite.”
Industrial Scaling Underway
Hycamite is commissioning an industrial-scale demonstration unit in Kokkola, Finland, to showcase the commercial readiness of its technology. The milestone aims to solidify the company’s position as a leader in low-carbon hydrogen and carbon solutions, with potential applications in Li-ion batteries, composites, and filters.
Climate Insider Notes
- Hycamite’s technology enables low-carbon hydrogen production with 87% less energy than electrolysis.
- Strategic investors include Sojitz, OMV Petrom, and MOL PLUS, highlighting global interest in scalable decarbonisation solutions.
- The company’s industrial-scale demonstration unit in Finland aims to prove commercial viability and drive global adoption.
- Applications extend beyond clean energy, including carbon-based materials for industrial use.
This investment solidifies Hycamite’s position at the forefront of methane-splitting technology, paving the way for scalable, efficient decarbonisation.
Featured Image: Credit: Hycamite
