Hycamite signs LOI with Jervois Global on potential hydrogen supply
Hycamite TCD Technologies and Jervois Finland have signed a letter of intent for the potential supply of zero-emission hydrogen.
Hycamite TCD Technologies and Jervois Finland have signed a letter of intent for the potential supply of zero-emission hydrogen. Hycamite manufactures hydrogen and solid, battery-grade carbon by decomposing, without greenhouse gas emissions, methane molecules from natural gas and biogas. Jervois Finland is a fully owned subsidiary of the publicly listed Australian group, Jervois Global. Earlier this year, Jervois Global acquired Freeport Cobalt in Kokkola, which became Jervois Finland with the acquisition. Both Hycamite and Jervois Finland operate in the Kokkola Industrial Park (KIP) in western Finland.
Jervois Finland is exploring the possibility of using Hycamite’s zero-emission hydrogen in its own production. Hydrogen is utilised in the reduction of cobalt because it reduces metal salts and oxides under suitable conditions.
Cobalt is increasingly consumed in cathodes of electric vehicle lithium ion batteries. Correspondingly, industrial-quality carbon is used in battery anodes. In addition to batteries, graphite is used in refractory applications, brake pads, carbon brushes for electric motors, the foundry industry, as a dry lubricant, and in steel fabrication.
‘We are very pleased with this potential hydrogen supply arrangement, as our goal is to become a globally significant supplier for the industry over time’, said Laura Rahikka, CEO of Hycamite.