Hycamite appoints Swedbank as lead advisor to explore financing options

03.11.2021 09:01

Hycamite appoints Swedbank as lead advisor to explore financing options
Hycamite TCD Technologies Ltd. has appointed Swedbank AB (publ) as its lead financial advisor to explore different financing options. Hycamite produces hydrogen and clean, industrial-grade carbon by breaking down methane molecules from natural gas and biogas. With the help of new, unique catalysts, hydrogen and carbon are sustainably produced without greenhouse gas emissions. Hycamite's new technology is based on the University of Oulu's long-term applied chemistry research.

Hycamite has made rapid progress in developing and commercialising its thermocatalytic technology. This year, the company opened a hydrogen and carbon production test facility in the Kokkola Industrial Park (KIP) in Finland. Next year, Hycamite plans to begin construction of an industrial pilot plant in the same area, near large industrial plants using hydrogen.

"Exploring financing options will help us meet the rapid growth in demand for zero-emission hydrogen and carbon for the battery industry. We provide a much-needed alternative for industrial companies that need hydrogen and industrial coal produced reliably close to the customer," says Laura Rahikka, Hycamite’s CEO.

Customers can use the hydrogen produced by Hycamite for emission-free energy production and various industrial processes. For example, hydrogen can also be used to produce synthetic fuels to replace jet fuel, diesel and petrol made from oil. Production will allow companies to switch from fossil fuels to hydrogen in the next few years, even though the wind- and solar-power-generated hydrogen on the market will not be sufficient to meet the growing demand for a long time to come.

Hycamite’s pure carbon with exacting properties can be used, for example, in the manufacture of electric car batteries and in the electronics industry. Thus, in addition to the development of the hydrogen industry, Hycamite's production also supports the development of electric battery production in Finland.

KIP is Northern Europe’s largest ecosystem of inorganic chemical industry, where several companies leading the chemical and metal processing industries operate. In the Park, there are almost 20 industrial plants and over 60 service companies, which support the industrial companies’ core functions. These companies directly employ approximately 2,300 people.

More information:
Laura Rahikka, President and CEO, Hycamite TCD Technologies Ltd.
Tel: +358 40 723 6101
Email: laura.rahikka(at)hycamite.com

Mika Karikoski, Chief Financial Officer of Finland, Swedbank AB (publ)
Email: mika.karikoski(at)swedbank.fi