In March 2022 Climate Fund made an investment decision to Hycamite’s emissions-free hydrogen demonstration plant. Today, Hycamite is both entering the US markets and beginning the construction of the industrial-scale facility in Kokkola, Finland. Hycamite’s CEO Laura Rahikka shared news about the company’s busy past year and future growth plans.
Hycamite produces clean hydrogen and solid pure carbon by splitting methane, the main component of natural and biogas. The technology enables sustainable hydrogen production without any greenhouse-gas emissions. Hydrogen can be used as a raw material in the chemical industry, climate-neutral fuel production, or as an emission-free fuel to balance fluctuations in the wind and solar power. The produced carbon is suitable for demanding industrial use, for example in battery manufacturing, new materials or additives in cement products lowering the carbon footprint of these applications.
For maritime applications, Hycamite has joined forces with Wärtsilä to develop a technology that enables the production of hydrogen onboard vessels using liquefied natural gas (LNG). This concept enables utilising existing LNG infrastructure while reducing CO2 and methane emissions in the marine environment.
Construction begins with the 25 million euros funding
The 1,5 years after Climate Fund’s investment decision have been eventful and memorable for all of us in Hycamite. We closed our funding round with 25 million euros in July this year. The investment enables us to scale our technology and production on the commercial scale. We aim to have the industrial-scale building here in Kokkola completed in December 2023 and installation of equipments begins in January 2024. The plant will be fully operational at the latest in autumn 2024.
The demonstration plant will have two functions: first, to produce clean hydrogen and demonstrate the technology and second, to provide carbon samples for our high-value carbon customers. It will have an annual nominal capacity of 2 000 tons of clean hydrogen and 6 000 tons of solid carbon to further reduce the footprint of other products. The power consumption will be approximately 13% of the same-capacity electrolyser.
Launching into US markets
Throughout the plant construction, our goal is to expand Hycamite’s market reach into the customer markets beyond Finland. We will build hydrogen production facilities at the customers’ premises, providing them with clean hydrogen for their own processes. We are planning to deploy numerous sites both in industrial applications and vessels within the maritime industry.
As of today, Hycamite has officially launched into the US markets in Washington. We intend to establish a subsidiary in the USA in the autumn of 2023. The launch initiates our operations in the USA, and the first letter of intent with an American customer has been signed with NW Natural, Oregon’s largest gas utility.
Growth plans require skilled workforce
In addition to US market, growth will be pursued in Canada, Japan, and Europe. By 2030, our objective is to establish 20 facilities worldwide and become both a leading TCD hydrogen producer and a significant operator to decarbonize industry.
Growth requires a skilled workforce at our facilities. Currently we employ 37 experts and the total workforce in Finland will increase up to 50 people by the end of 2023 and 70 people by the end of 2024. Recruitment in the USA and Canada will begin in early 2024 but additional employees are also needed at other locations. We warmly welcome all enthusiastic and dedicated individuals who want to be part of our exciting international market launch to explore our company and open positions in the near future.
Laura Rahikka
CEO
Hycamite