The closure of this investment today (Feb 1) will enable Ekona to scale its novel methane pyrolysis technology platform that can be utilised to produce low-cost clean hydrogen also known as turquoise hydrogen.

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A unique aspect of this hydrogen production method is that it drastically reduces carbon emission throughout the process making it a potential key technology in producing clean hydrogen.

It uses heat recovery and combustion to generate the heat energy and high temperatures that are required to drive the methane splitting reaction.

In addition to this, the platform is low-cost, scalable, and can be flexibly sited wherever natural gas infrastructure exists.

Chris Reid, CEO of Ekona Power, said, “We are excited to close this significant milestone for our organisation as we become one step closer to commercialising our technology. We would like to thank all our investors and stakeholders for their investment, passion, and commitment to our technology.

“We believe that to facilitate the smooth application of hydrogen across global markets, we need a solution that is clean, scalable, and economically viable.

“Therefore, Ekona’s technology has been developed to produce hydrogen at costs on par with conventional steam methane reformers, while considerably reducing greenhouse gas emissions.”