VNG Innovation and Wintershall Dea Technology Ventures invest in UK start-up HiiROC
VNG Innovation GmbH, a wholly owned subsidiary of VNG AG and Wintershall Dea Technology Ventures GmbH, a wholly owned subsidiary of Wintershall Dea GmbH, which both specializes in strategic cooperation and investments with start-ups from the energy industry have acquired shares in the British startup HiiROC in October 2020. The company, based in Hull, England, is creating transformational technology for low-cost, zero-emission hydrogen generation from natural gas or bio-natural gas for power generation, industry, and transport including aviation. This technology was presented by the start-up on 25 March 2021 at the ATI Boeing Accelerator 2021 Demo Day. The ATI Boeing Accelerator is a 3 month-long programme. It is intended to support innovation and the growth of startups in the UK's aerospace ecosystem.
VNG Innovation GmbH sees a lot of potential at HiiROC. “We are delighted to be involved in another innovative start-up, HiiROC. HiiROC has developed a methane pyrolysis process that is much more efficient and effective than conventional processes. The technology can be a real game changer for the production costs of hydrogen,” explain Dr. Matthias Tischner and Andreas Päts, managing directors of VNG Innovation GmbH.
The hydrogen obtained can be used as a clean, CO2-free energy carrier, while the carbon (black carbon) deposited in solid form in the production process can be used as a raw material in industry, for example for the production of tires, plastic, rubber or similar products. In contrast to other pyrolysis technologies, the process can also be used on a smaller scale and can therefore also be used decentrally, e.g. directly in the house. “With this investment, we would primarily like to gain experience in the consumption-oriented production and marketing of climate-friendly hydrogen and learn how to deal with solid carbon or carbon dioxide,” adds Päts. HiiROC enables the new partnership to test its process, which has been developed on a laboratory scale, on a larger scale and to achieve possible scaling effects.
VNG Innovation GmbH is a 100 percent subsidiary of VNG AG and a company of the VNG Group. It was founded in 2015 and enters into strategic partnerships with startups that deal in particular with topics and solutions for the energy industry. The focus of investment lies in the areas of energy efficiency, energy storage, energy conversion, digitization, mobility and sustainability. Founders who fit this description can apply using the contact form on the company's website. More at: www.vng-innovation.de.