Tulum Energy, a climate startup specializing in turquoise hydrogen, will build its pilot plant at the Ternium industrial complex in Pesquería, Nuevo León. This facility will mark a key step in the decarbonization of steel by producing clean hydrogen using an innovative methane pyrolysis technology, which transforms natural gas or biogas into hydrogen and solid carbon, with zero CO2 emissions.
The project will be financed with a $27 million international venture capital round led by CDP Venture Capital, through its Green Transition Fund, and TDK Ventures, with participation from TechEnergy Ventures (Tulum’s founding partner), MITO Tech Ventures, and Doral Energy-Tech Ventures.
At this plant, Tulum Energy will develop an innovative technology that transforms natural gas or biogas into clean hydrogen (turquoise) and solid carbon, generating zero carbon dioxide (CO2) emissions. This process, known as methane pyrolysis, represents a more viable and efficient alternative to other forms of hydrogen production, as it reduces costs and offers energy efficiency.
“Our technology stands out for its unprecedented combination of a high level of scalability with exceptional energy efficiency. It allows us to offer large industrial consumers—such as refineries, ammonia producers, and chemical plants—truly competitive hydrogen, even without relying on tax credits or incentives,” said Massimiliano Pieri, CEO of Tulum Energy.
A strategic partner that can scale this technology
“Ternium (the largest steel company in Latin America) is the ideal strategic partner to host our initial operations. They have a direct interest in using both our hydrogen in the production of direct reduced iron (DRI) and our solid carbon in other industrial applications. Most importantly, they have the necessary infrastructure to scale our technology seamlessly,” explained Massimiliano Pieri.
The pilot plant represents a critical phase for Tulum Energy, which plans to later build a full-scale commercial plant. In parallel, the company will launch a subsidiary in Milan, Italy, to concentrate its research, development, and engineering activities.
With this new investment, the company is positioning itself to work on the decarbonization of intensive industrial sectors, such as steel production, by offering an innovative and efficient alternative.
How did the startup come about?
Tulum Energy was born as an initiative of TechEnergy Ventures—Tecpetrol’s corporate venture capital fund—based on a technology developed by Tenova, a leading integrated solutions company of the Techint Group. In 2022, the two companies established a strategic alliance that gave rise to the startup, with registered intellectual property, a consolidated team, and initial capital to launch its business plan.
Tenova’s backing gives Tulum Energy a competitive advantage by leveraging its experience, customer network, and established supply chain, which will accelerate the construction of the pilot plant and quickly transition to a commercial plant.
Source: eleconomista
