With the investment, it is hoped that the hydrogen production technology can be integrated into the steel manufacturing industry to decarbonise its operations on a day-to-day basis.

Ekona power has created a novel methane pyrolysis technology platform that can be utilised to produce low-cost clean hydrogen also known as turquoise hydrogen.

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.

Andrey Laptev, Director of Business Development and Corporate Venture projects at Severstal, said, “Decarbonisation is crucial for the future of the steel industry. Any long-term competitive advantage is now dependent on investments in advanced steel production methods.

“Ekona Power’s innovative technology will help us solve the problem of reducing carbon emissions – not just for Severstal, but across the whole industry.

“The participation of Severstal Ventures in such a significant project once again confirms our commitment to reducing carbon dioxide emissions for our industry and combating climate change.”

Making hydrogen happen

This March, H2 View will explore A Climate for Action and Investment in Europe in an immersive virtual event that features some of the leading stakeholders and influencers in hydrogen, including a Women in Green Hydrogen panel.

Confirmed speakers include the Hydrogen Europe, Clean Hydrogen Partnership, FiveT Hydrogen, Airbus, Nel, BMW, Michelin and more.

Further information on the event, agenda and confirmed speakers can be found here.

To book your ticket for €79, click here.