HydrogenOne invests in HiiROC

With this purchase of a minority equity stake, HydrogenOne has the right to a board seat at HiiROC.

The investment forms part of an approximately £26 million fundraising round, introducing other new investors including Melrose Industries, Centrica, Hyundai and Kia, alongside existing strategic investors Wintershall Dea and VNG.

HiiROC’s proven technology converts biomethane or natural gas into clean hydrogen and carbon black, through a proprietary electrolysis process using thermal plasma. This results in zero CO₂ hydrogen production, known as turquoise hydrogen, at a cost comparable to the predominant, but high emission, steam methane reforming process, and only using only one fifth of the energy required by water electrolysis. The solid carbon byproduct, carbon black, has applications ranging from tyres, building materials and as a soil enhancer.

HiiROC has strong growth potential in a number of hydrogen sectors, including grid injection, electricity generation, decarbonising industry replacing natural gas, flare mitigation and synthetic aviation fuel production. The company’s investors, Wintershall Dea and VNG, have recently announced a 400 kg/day hydrogen facility in Germany using HiiROC technology, due to be operational in 2023.

Read the article online at: https://www.globalhydrogenreview.com/product-news/29112021/hydrogenone-invests-in-hiiroc/