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Ekona Power

Hydrogen Economy
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Low-carbon Hydrogen
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Ekona Power is a Canadian company producing clean hydrogen and electrical power using natural gas (methane) feedstock. The company’s pulsed-methane pyrolysis (PMP) system combines a patent-pending pulse methane pyrolysis reactor with a direct carbon fuel cell to convert natural gas into hydrogen (or hydrogen-based electricity) and solid carbon, eliminating carbon emissions in the process. The company’s target market includes industrial hydrogen and natural gas decarbonization industries. The company plans to deploy a one-tonne-per-day hydrogen plant in 2024, followed by its operational testing in 2025 and commercialization in 2026.

In January 2024, Ekona reported that it tested its xCaliber methane pyrolysis reactor against its 2023 performance targets successfully. Following the tests, Ekona intends to expand its Burnaby facility to accommodate a 200-kilogram-hydrogen-per-day plant in 2024.

Key customers and partnerships

In January 2024, oil and gas producer ARC Resources partnered with Ekona to conduct a field-based hydrogen pilot project. The pilot will evaluate the ability of Ekona’s xCaliber reactor technology to produce a consistent supply of clean hydrogen using ARC’s natural gas infrastructure, marking the technology’s first industrial deployment.

Funding and financials

In May 2024, Ekona received USD 1 million in funding from Alberta Innovates, which will be used to test its methane pyrolysis reactor. Prior to this, in February 2022, the company received a strategic investment of CAD 79 million (USD 62 million) led by Baker Hughes to support the commercialization of its PMP technology platform.

Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
66
Total funding (USD)
9.5 Bn
Total addressable market (USD)
128.7 Bn
Key competitors
 
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Company profile
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Recent Updates

Funding
May 1, 2024
Ekona Power receives USD 1 million from Alberta Government to advance technology
Hydrogen Economy
Product updates
Jan 3, 2024
Ekona Power announces internal performance milestones
Hydrogen Economy
Funding
Feb 1, 2022
Ekona Power secures CAD 79 million in Baker Hughes-led investment
Hydrogen Economy

Company Brief


HQ location:
151 West Hastings Street Vancouver BC CAN
Founded year:
2017
Employees:
11-50
Total Funding:
USD 69.0 million
Last Funding
USD 1.0 million, Apr 2024

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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