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.
The three organizations joined forces 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.
Furthermore, 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.
Laura Rahikka, CEO, Hycamite, stated that the company has been working on the marine application through the development program partly financed by Business Finland since 2022 and while starting the operations of Hycamite’s industrial-scale demonstration facility, the company expects to gain a steep development in the understanding of the possibilities that its technology can bring.
Through collaboration with MOLEA, MOL PLUS, and their global technical teams, we can accelerate the development and promotion of the onboard methane-splitting application.
…said Laura Rahikka.
