Hymeth

Denmark-based Hymeth has developed an electrolyzer using a core-shell electrocatalyst which the company claims is a more efficient alternative to PEM electrolyzers. The patented electrolyzer is called Hyaeon. The core of the electrocatalyst is made of copper—which has a low electricity resistance—so less heat is generated during the electrolysis process. The outer shell works as a protective barrier for the core and is made of three metal alloys—copper, nickel, and iron—which are both low cost and durable. The company claims that its electrocatalyst can achieve a current density of over 500 milliamps per square centimeter (mA/cm²) on 1.7 volts (V) which is around 10x higher than industrial standards. The company also states that the Hyaeon electrolyzer is relatively smaller in comparison to other electrolyzers in the market.

In October 2019, Hymeth commenced commercial production of its electrolyzers with plans to deliver to their first customer later that year. For initial production, the company partnered with the Danish subsidiary of Alfa Laval (a Swiss company that develops specialized products and solutions for heavy industries) to utilize their manufacturing facilities and workforce. In October 2023, the company successfully completed the first site acceptance test (SAT) of its electrolyzer at Nilsson Energy in Gothenburg, Sweden.

Hymeth also has plans to develop a solid-carbon reactor—Hynace—which can extract carbon dioxide from the environment to produce synthetic methane gas, methanol, diesel, and aircraft fuel.

Funding and financials

Hymeth’s most recent funding event was in September 2020 when the company raised SEK 3.6 million (around USD 400,000) in a Seed round from InnoEnergy.