Hycamite funding news – Finland-based Hycamite has Raised €44Million in a Two-Step in Series A Round Funding

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

It announced that it has secured a total of €44 million in a two-step series A investment from a group of high-quality strategic and financial investors. The second part of the series was closed to initiate the operations of the company’s industrial-scale demonstration unit.

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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.

OMV Petrom – as part of the broader OMV Group of companies – is the largest integrated energy producer in Southeast Europe, active along the entire energy value chain. MOL PLUS is a corporate VC company wholly owned by Mitsui O.S.K. Lines, Ltd., one of the world’s largest shipping companies. Some private investors and staff members joined the investment round.

Ms. 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. I can assure our stakeholders that the best is yet to come,”.

Koji Aonuma, General Manager of Energy Transformation Department said, "Sojitz Corporation has made an additional investment in Hycamite to promote the practical implementation of innovative methane-splitting technology, a solution in increasing demand. As the largest shareholder of Hycamite, Sojitz will leverage its expertise and global networks to further accelerate the development of businesses related to clean hydrogen and high-performance carbon products.”

Franck Neel, Executive Board Member of OMV Petrom said, “This partnership with Hycamite will provide OMV Petrom access to advanced clean energy solutions. By investing in innovative technologies, we are unlocking new ways to transform natural gas into a cleaner fuel, aligning with our vision for a sustainable energy future”.

Mr. Takuya Sakamoto, CEO of MOL PLUS said, “Through our discussions with Hycamite, we are interested in the Turquoise Hydrogen segment, and we strongly feel the potential for collaboration in the direction of utilizing LNG for Vessels, leading us to make this investment and business alliance. It is a significant challenge of verifying its application to vessels, but we are committed to the success of this challenge, along with the other shareholders of Hycamite.”

About Hycamite

Hycamite is a privately owned, deep-tech company headquartered in Kokkola, Finland. It breaks down methane molecules using heat and its proprietary zero-emissions technology. It's products have an exceptionally low carbon footprint. It can tailor its high-value carbon products to customer needs and produce them in industrial quantities.