Article
Centrica acquires minority stake in break-through hydrogen production technology Company
Description
Centrica has today (Monday 29th November) announced it is taking a minority stake in HiiROC, the hydrogen production technology company helping to combat climate change with affordable hydrogen produced at scale but without CO2 emissions.
HiiROC has completed a c. £26 million funding raise with new investors including Melrose Industries, HydrogenOne, Centrica, Hyundai, and Kia, who join existing strategic investors Wintershall Dea and VNG.
HiiROC's proprietary technology converts biomethane, flare gas or natural gas into clean hydrogen and carbon black, through an innovative electrolysis process using thermal plasma. This results in zero CO2 ""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.
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