Carbontech company HYCO1 has announced the successful completion of testing for its carbon dioxide (CO2) waste emission conversion technology.
Its proprietary catalyst and process technology aims to convert the waste emissions into high value, sustainable products and – through testing – HYCO1 intends to scale-up its novel catalyst solution to support its commercial, global CO2 conversion projects and applications.
The range of potential carbon-negative or carbon-neutral products capable of being created through the company’s catalyst technology includes food grade waxes, motor oils, paints, dyes, fertilisers and fuel.
Commenting on the announcement, Greg Carr, CEO, HYCO1, said, “We have started our catalyst characterisation operations targeting key commercial design milestones at 4,000 hours, 8,000 hours and longer run times.”
“We will leverage this process to optimise commercial designs being used today in FEL 1, 2, 3 engineering on the multiple commercial projects in our development pipeline.”
The tests involve HYCO1 evaluating the system under a variety of operating parameters, including assessing a range of CO2 feed gas compositions, flow rates, pressures and temperature.
Successful commercialisation of the company’s catalyst technology could see more industrial companies look to decarbonise their processes.
To further its investment potential, HYCO1 has also engaged CIBC Capital Markets as Financial Advisor for its Series A financing.
“The CIBC team is actively engaged in energy transition and particularly the carbon capture, utilisation and storage (CCUS) sectors with a strong network of interested climate-tech investors,” added Carr.