Hycamite, Finland methane-splitting firm, raises €44m

Kokkola, Finland-based Hycamite — a firm that produces green hydrogen and solid carbon by using methane-splitting technology — announced it has secured a total of €44 million in a two-step series A investment from a group of strategic and financial investors.

“The second part of the series was closed to initiate the operations of the company’s industrial-scale demonstration unit,” said Hycamite.

The investment round was led by Sojitz Group, with existing investors Holdix Oy, Turret Oy, and Stephen Industries Oy also participating. New investors OMV Petrom and MOL PLUS joined the investment.

Hycamite TCD Technologies has attracted strong global interest in its methane-splitting technology, which produces low-carbon hydrogen and high-value solid carbon products from methane.

Hycamite is in the process of demonstrating both industrial scale and commercial readiness of its technology with the new unit under commissioning in Kokkola.

Laura Rahikka, CEO and Co-Founder of Hycamite, said: “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.”

Hycamite’s largest shareholder Sojitz Corporation has made an additional investment in Hycamite to promote the practical implementation of methane-splitting technology.