Introduction to Tulum Energy and the Project
Tulum Energy, a climate-focused startup specializing in turquoise hydrogen, is set to construct its pilot plant at the Ternium industrial complex in Pesquería, Nuevo León. This development marks a significant step towards decarbonizing steel production by generating clean hydrogen through an innovative methane pyrolysis technology. This process converts natural gas or biogas into hydrogen and solid carbon without CO2 emissions.
Financing the Project
The project will be financed through a $27 million international venture capital round, led by CDP Venture Capital through its Green Transition Fund and TDK Ventures. Other participants include TechEnergy Ventures (a founding partner of Tulum Energy), MITO Tech Ventures, and Doral Energy-Tech Ventures.
Innovative Technology and its Advantages
Tulum Energy’s technology stands out for its unique combination of high scalability and exceptional energy efficiency. It offers industrial consumers, such as refineries, ammonia producers, and chemical plants, a competitive hydrogen solution without relying on tax credits or incentives. The pyrolysis of methane process is more viable and efficient compared to other hydrogen production methods, as it reduces costs and provides energy efficiency.
Strategic Partnership with Ternium
Ternium, Latin America’s largest steel producer, is the ideal strategic partner for Tulum Energy’s initial operations. They have a direct interest in using the company’s hydrogen in direct reduced iron (DRI) production and its solid carbon for other industrial applications. Ternium’s existing infrastructure will enable the seamless scaling of Tulum Energy’s technology.
Next Steps for Tulum Energy
The pilot plant is a crucial phase for Tulum Energy, which plans to build a large-scale commercial plant subsequently. In parallel, the company will launch a subsidiary in Milan, Italy, to focus on research, development, and engineering activities.
Background of Tulum Energy
Startup Origins
Tulum Energy originated as an initiative by TechEnergy Ventures, the corporate venture capital fund of Tecpetrol. The technology was developed by Tenova, a leading provider of integrated solutions from Grupo Techint. In 2022, both companies formed a strategic alliance that gave birth to the startup, with registered intellectual property, a consolidated team, and initial capital for their business plan.
Tenova’s backing gives Tulum Energy a competitive edge by leveraging its experience, client network, and established supply chain. This will accelerate the construction of the pilot plant and facilitate a swift transition to a commercial-scale plant.
