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.
