Tulum Energy raises €22.9 million to advance scalable low-carbon hydrogen production

Milan-based Tulum Energy, a startup producing clean hydrogen solutions for industrial applications, has reportedly raised €22.9 million in a seed funding round to accelerate the development of their innovative clean hydrogen production technology.

Tulum aims to commercialise a scalable approach to hydrogen production, utilising proven electric arc furnace (EAF) technology, commonly used in steel production at capacities of over 100 MW, in a novel configuration for producing hydrogen.

The company leverages commercially available electric-arc plasma reactor technology to achieve cost parity with traditional hydrogen production methods, while also reportedly reducing carbon emissions.

Image ©Tulum Energy

The funding round was co-led by TDK Ventures, a subsidiary of TDK Corporation, and CDP Venture Capital, with participation from Doral Energy-Tech Ventures, MITO Tech Ventures, and TechEnergy Ventures.

Tulum CEO and Co-founder Massimiliano Pieri said: “We are thrilled to partner with TDK Ventures, whose global reach and technical expertise will be invaluable as we move to pilot and commercial scale. Tulum has the very real potential of expanding TDK’s impact in decarbonisation, particularly in hard-to-abate sectors.”

With technical backing from Tenova, Techint’s subsidiary that produces EAFs, Tulum looks to deliver hydrogen at levelised costs comparable to conventional grey hydrogen, while achieving up to 95 per cent reduction in greenhouse-gas emissions.

Tulum expects to reach commercial operations directly following the first pilot and achieve hydrogen production costs matching or beating fossil fuel-based alternatives without relying on incentives or the sale of the potentially valuable carbon co-product.

Nicolas Sauvage, President of TDK Ventures, added: “Tulum’s innovative reactor could be a game-changer in geographies where green hydrogen is cost-prohibitive or logistically infeasible. Their technology offers superior energy efficiency, smaller land footprint, and compelling economics that meet the immediate needs of heavy industry. By harnessing the potential of turquoise hydrogen, Tulum is well-positioned to decarbonise heavy industry and create a more sustainable future for generations to come.”

For more information, visit www.tulum.energy.