Tokyo, Japan and Kokkola, Finland December 9, 2024 – Hycamite TCD Technologies Ltd, MOLEA Ltd. and MOL PLUS Co., Ltd. announced the signing of a Memorandum of Understanding (MoU) for cooperation in promoting the application of methane-splitting for power generation and propulsion onboard marine vessels. This partnership brings together three organizations to speed up efforts to reduce carbon emissions in the shipping sector.
Hycamite will start operations in early 2025 at its recently completed first industrial-scale methane-splitting plant in Kokkola, Finland. Under the MoU, Hycamite will collaborate with MOLEA and MOL PLUS to further develop its onboard methane-splitting technology.
“We are excited to partner with MOLEA and MOL PLUS to drive innovation in maritime decarbonization. Hycamite has been working on the marine application through the development program partly financed by Business Finland since 2022 and as we are starting the operations of our industrial-scale demonstration facility, we expect to gain a steep development in the understanding of the possibilities that our technology can bring. Our technology focuses on decarbonizing some of the most hard-to-abate sectors in the world and marine traffic is one of those,” says Laura Rahikka, CEO at Hycamite. “Through collaboration with MOLEA, MOL PLUS, and their global technical teams, we can accelerate the development and promotion of the onboard methane-splitting application.”.
The collaboration will focus on investigating the possibilities of developing and applying Hycamite’s technology in marine applications. With Hycamite’s technology, LNG-fueled ships can convert methane into hydrogen as they sail, and the solid carbon can be offloaded at the port of destination.
About Hycamite
Hycamite is a privately owned, deep-tech company headquartered in Kokkola, Finland. Hycamite breaks down methane molecules into clean hydrogen and solid, high-value carbon products using heat and its proprietary zero-emission technology. All Hycamite products have an exceptionally low carbon footprint. Hycamite can tailor its high-value carbon products to customer needs and produce them in industrial quantities. Its methane-splitting technology is based on long-standing research in applied chemistry from the University of Oulu, Finland.
Website: https://hycamite.com/
About MOLEA
London-based MOLEA is a wholly owned subsidiary of Mitsui O.S.K. Lines, Ltd. (President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo). In Europe and Africa, MOLEA is committed to offering customers with high value-added services by leveraging the MOL Group’s collective strengths; while inheriting the experience and know-how it has accumulated over the years.
About MOL PLUS
The corporate venture capital (CVC) subsidiary of Mitsui O.S.K. Lines, Ltd., MOL PLUS invests in a wide range of early- and middle-stage startup companies around the world, that have the potential to reform ocean shipping business models and create new businesses in the shipping industry from a medium- to long-term perspective.
MOL PLUS continually works to generate synergetic effects based on startup companies’ innovative ideas and technologies and the MOL Group’s resources through investment in and collaboration with startups, aiming to create new businesses PLUS new value to the ocean shipping industry and society.
Website: https://en.molplus.net/
For more information, please contact:
Hycamite
Sonja Vermeulen
Communications and Marketing Manager
sonja.vermeulen@hycamite.com
+358 40 142 9174
MOLEA (Europe Africa) Ltd.
Alex Green
Senior Business Development Manager
alex.green@molgroup.net
+44 20 3764 8054
MOL PLUS
molplus@molgroup.com
+81 3 3587 7643
