Hydrogen producer Hycamite secures up to €10 million capital loan.
The Finnish Climate Fund has decided on a capital loan of up to 10 million euros to Hycamite TCD Technologies for building of the new Customer Sample Facility (CSF). The facility is intended to demonstrate the viability of the new methane pyrolysis technology for clean hydrogen and industrial-quality solid carbon production. The proprietary zero-emission technology is based on the thermo-catalytic decomposition (TCD) of methane molecules.
Laura Rahikka, CEO of Hycamite, said:
The Climate Fund’s contribution to the funding of the facility accelerates the development of this technology.
“We are already well advanced in the preparation of the CSF, and our customers will soon expect higher volumes of our zero-emission hydrogen and industrial grade solid carbon.”
Hycamite’s technology enables the production of low-carbon or even carbon-negative hydrogen. The novel methane pyrolysis technology requires only 13% of the energy needed to produce hydrogen using electrolysis.
Hydrogen can be produced from biomethane, methane from natural gas, or synthetic methane. As a cutting-edge carbon capture, utilisation and storage (CCUS) technology, Hycamite’s solution enables the creation of carbon sinks when using biomethane.
Paula Laine, CEO of the Climate Fund, describing the importance of the solution:
Hycamite’s solution diversifies the hydrogen project offering and replaces grey hydrogen in industrial applications.
“I see an interesting role in the hydrogen economy for it. The carbon from the feed gas used in the process is recovered in solid form and can be used for a variety of applications”.
Based on years of research at the University of Oulu, the disruptive and IP protected process developed by Hycamite provides clients with industrial-quality carbon fit for demanding applications, such as Li-ion batteries, composite materials and filter purifiers.
Hycamite’s production is environmentally friendly. There are no emissions into the atmosphere and the catalysts used are sustainable.
Hycamite is a privately owned company headquartered in Kokkola, Finland. The new CSF will be built in the Kokkola Industrial Park (KIP). KIP is northern Europe’s largest ecosystem of inorganic chemical industry, where several companies leading in the chemical and metal processing industries operate.
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Hydrogen producer Hycamite secures up to €10 million capital loan, February 8, 2023
