Hycamite, a Finland-based company specializing in clean hydrogen and industrial carbon production, has raised €44 million in a two-step Series A funding round.
The funds will support the operation of its industrial-scale demonstration unit in Kokkola, Finland, advancing its scalable decarbonization solutions.
Strategic Backing
The round was led by Japan’s Sojitz Group, with participation from existing investors Holdix Oy, Turret Oy, and Stephen Industries Oy. New investors OMV Petrom (part of the OMV Group) and MOL PLUS (a corporate VC arm of Mitsui O.S.K. Lines) also joined.
Koji Aonuma, General Manager of Energy Transformation at Sojitz, emphasized the partnership:
“As the largest shareholder of Hycamite, we aim to accelerate the practical implementation of its methane-splitting technology through our expertise and global networks.”
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Advanced Methane-Splitting Technology
Hycamite’s patented thermo-catalytic decomposition (TCD) process produces clean hydrogen and solid industrial-quality carbon from methane sources, such as biomethane and natural gas. This zero-emission technology requires only 13% of the energy used in hydrogen production through electrolysis.
The technology supports carbon capture, utilization, and storage (CCUS), creating carbon sinks and providing industrial-grade carbon for applications like lithium-ion batteries, composites, and filters.
Industrial Scaling and Partnerships
Hycamite partners with chemical and steel factories to build modular plants near natural gas-consuming facilities. By leveraging existing infrastructure and standardized technology, the company ensures cost-efficient and quick deployment.
With the demonstration unit in Kokkola, Hycamite is proving its industrial-scale readiness. Laura Rahikka, CEO and Co-Founder, noted:
“This investment enables us to achieve industrial scaling and deepen our engagement with global customers. The growing interest in our technology and support from investors demonstrate the impact of our mission.”
Global Collaboration and Ambitions
Investors see significant potential in Hycamite’s solutions:
- Franck Neel, Executive Board Member at OMV Petrom, said:
“This partnership unlocks advanced clean energy technologies, aligning with our vision for a sustainable energy future.” - Takuya Sakamoto, CEO of MOL PLUS, highlighted its potential for LNG vessel applications, stating:
“Hycamite’s innovation represents a transformative step toward decarbonizing maritime energy.”
Decarbonizing with Impact
Hycamite is positioned as a leader in clean hydrogen and carbon solutions, addressing global energy transition challenges while reducing emissions. With strong investor backing and scalable technology, the company is paving the way for a sustainable industrial future.
