Hycamite TCD Technologies, a Finland-based cleantech company specializing in low-carbon hydrogen production, has welcomed CMA CGM, a France-based shipping and logistics major, as a new strategic investor.
As informed, Hycamite breaks down methane into clean hydrogen and solid carbon materials using heat and its proprietary low-emission technology. The company can reportedly tailor its products to customer needs and produce them in industrial quantities. Its methane-splitting technology is said to be independently developed and based on research in applied chemistry from the University of Oulu, Finland.
Hycamite is set to begin operations in 2025 at its recently completed industrial-scale methane-splitting plant in Kokkola, Finland.
Laura Rahikka, CEO of Hycamite, commented: “We are excited to welcome CMA CGM, through its energy fund PULSE, as a strategic investor. As a global player in container shipping with a diversified portfolio, CMA CGM’s investment will accelerate Hycamite’s efforts to decarbonize maritime transport and support the industrial scaling of our technology more broadly.”
“Since 2022, Hycamite has been advancing its marine application through a development program partly funded by Business Finland. Now, with Kokkola CSF operations to commence shortly, our innovative technology is poised to transform maritime transportation and other hard-to-abate sectors worldwide. CMA CGM’s investment signals growing international interest in our technology. CMA CGM’s support will fast-track the development and adoption of our multiple methane-splitting applications.”
In other news, it is worth noting that in late 2024, Hycamite signed a memorandum of understanding (MoU) with MOL PLUS, a subsidiary of Japanese shipping major Mitsui O.S.K. Lines (MOL), and MOLEA, MOL’s UK-based business, to promote the application of methane splitting for the shipping sector.
Specifically, the collaboration is expected to focus on investigating the possibilities of developing and applying Hycamite’s technology in marine applications.