US energy giant Baker Hughes has invested £12m ($13.4m) into decarbonisation specialist Levidian, enabling the scale-up of both sustainable graphene and hydrogen production.
Having valued Levidian at around £130m ($145m), the investment will go towards advancing the company’s LOOP technology, a decarbonisation device which fires microwaves at methane, cracking it into its constituent components, carbon and hydrogen.
The carbon is produced in the form of so-called ‘wonder material’ graphene, which can be used to strengthen and improve various materials, whereas the hydrogen can be either used immediately as a hydrogen-rich gas blend, support industrial decarbonisation, or separated and stored.
Revealing that the investment comes at a ‘critical phase’ of Levidian’s development, John Hartley, CEO, said, “Baker Hughes has a long track record in energy technology and their expertise will be valuable as we scale Levidian quickly to meet the growing demand for decarbonisation, especially from the industrial sectors.”
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