Hymite

About Hymite

Hymite, operating under the legal name Hycamite TCD Technologies, is a Finnish company specializing in the production of low-carbon hydrogen and sustainable solid carbon. The company was founded by Laura Rahikka, who currently serves as the CEO.

Hycamite's core business revolves around a proprietary technology that utilizes the thermo-catalytic decomposition (TCD) of methane. This process splits methane molecules into hydrogen and carbon without releasing greenhouse gases into the atmosphere. The technology is notable for its energy efficiency, requiring only 13% of the energy needed for hydrogen production through electrolysis. The process can utilize various methane sources, including natural gas, biomethane, and synthetic methane, as well as side streams from the petrochemical industry. When biomethane is used as a feedstock, the process can result in carbon-negative hydrogen.

The firm's business model is centered on providing decarbonization solutions to industrial clients. Its primary products are clean hydrogen and high-quality carbon materials. These carbon products are designed for demanding applications, such as in the manufacturing of tires and specialty chemicals. By offering both low-carbon hydrogen and valuable carbon byproducts, Hycamite serves industries looking to reduce their environmental footprint and improve material performance.

In July 2023, Hycamite announced a significant funding round, securing €25 million from a consortium of new and existing investors. This included the Japanese conglomerate Sojitz Group, the Finnish family-owned Stephen Industries, The Finnish Climate Fund, and other investment firms like HAI Kapital, Holdix, and Turret. This capital injection is intended to facilitate the scaling of its technology and support the launch of commercial-scale production to serve clients across North America, Japan, and Europe.