Tulum Energy, spun out of industrial group Techint, has developed a technology that creates emissions-free hydrogen at similar costs to hydrogen based on fossil fuels.
A new corporate-backed startup that repurposes electric arc furnaces to create almost emission-free hydrogen could hold the key to cutting the high production costs that have been a barrier to the adoption of sustainably-produced hydrogen as a fuel source.
Tulum Energy, a company spun out of Italian industrial group Techint, already has backing from a large number of corporate investors.
It raised $27m in seed funding in a round co-led by CVC TDK Ventures and CDP Venture Capital. TechEnergy Ventures, the investment arm of Tecpetrol, a subsidiary of Techint; MITO Technology; and Doral Energy Tech Ventures, the CVC arm of Israeli…
