Hiiroc, a UK-based company developing ‘turquoise’ clean hydrogen technology, has completed a £26mn ($35mn) funding round with commitments from two new investors.

The technology converts biomethane, flare gas or natural gas into clean hydrogen and carbon black—a solid carbon byproduct that has applications in the manufacture of tyres and building materials as well as a soil enhancer—via electrolysis using thermal plasma.

London-listed hydrogen investment fund HydrogenOne Capital Growth and UK-based engineering sector investor Melrose Industries have this week provided financial backing to the firm.

“We are now very well positioned to move to commercialisation” Davies, Hiiroc

Existing backers include energy company Centrica, carmakers Hyundai and Kia, and gas companies Wintershall Dea and VNG.

The technology will produce turquoise hydrogen at a ‘comparable cost’ to steam methane reforming but without the emissions and using only one-fifth of the energy required by water electrolysis, according to Hiiroc.

“Our technology will produce low-cost, zero-emission hydrogen, delivered to customers on a modular, scalable basis at the point of demand,” says Tim Davies, Hiiroc CEO.

“We are now very well positioned to move to commercialisation and look forward to contributing to the transition to the hydrogen economy and its role in achieving net zero.”

HydrogenOne, which has committed £10mn to the firm, says turquoise hydrogen is an area of high growth, with Hiiroc a leader in the field.

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Author: Stuart Penson