Speed up efforts to reduce carbon emissions in the shipping sector

Hycamite TCD Technologies O, MOL (Europe Africa)  and MOL PLUS  announced the signing of a memorandum of understanding (MoU) in October 2024 for mutual cooperation in promoting the application of Pyrolysis (Methane splitting to Hydrogen and Solid Carbon) for power generation and propulsion onboard marine vessels.

Hycamite will start operations in early 2025 at its recently completed first industrial-scale methane-splitting plant in Kokkola, Finland. MOLEA will work with Hycamite and MOL PLUS under the MOU to potentially develop an ‘onboard’ maritime application with multinational technical teams also based in the wider MOL group.

MOL PLUS will support Hycamite in investigating the possibility of introducing Hycamite’s developed technology across MOL PLUS’s affiliates expecting Hycamite to make a significant contribution to decarbonization through much lower cost of production through its low-temperature process to produce ‘Turquoise’ Hydrogen, whilst fixing useful solid Carbon in a measurable compact way, pre-combustion and thus contributing to a diverse global low Carbon energy mix.

Hycamite

Hycamite is aprivately owned, deep-tech company headquartered in Kokkola, Finland. Hycamite breaks down methane molecules into clean hydrogen and solid carbon using heat and its proprietary zero- emissions 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.

MOL(Europe Africa)

London-based MOLEA isa 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.