Between 2002 and 2005, engineers with the Techint Group discovered an unexpected pyrolysis reaction in their electric arc furnace project, which split methane into hydrogen and solid carbon. Their finding was initially overlooked for years due to low interest in hydrogen production at that time. Recently, investors at Techint identified the potential of this forgotten discovery and established Tulum Energy to commercialize it. Tulum secured $27 million in seed funding to develop hydrogen production through methane pyrolysis, competing with other startups in the same field, focusing on pollution-free methods of hydrogen generation.
The team had inadvertently created what's known as a pyrolysis reaction, which is basically burning something in the absence of oxygen. In this case, the furnace was splitting methane into pure hydrogen and pure carbon.
But a couple of years ago, investors for the Techint Group's corporate VC arm were scouring the landscape for new ways to produce hydrogen from methane without the usual pollution.
Tulum closed an oversubscribed $27 million seed round led by TDK Ventures and CDP Venture Capital, with participation from Doral Energy-Tech Ventures, MITO Tech Ventures, and TechEnergy Ventures.
The reaction has attracted attention for its ability to produce hydrogen from cheap, widely available natural gas without any carbon dioxide emissions.
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