Baker Hughes has announced that it will invest in Ekona Power, a growth stage company developing novel turquoise hydrogen production technology to accelerate developing hydrogen and low-carbon natural gas solutions, the company said in a statement.
It elaborated that turquoise hydrogen is made from methane using pyrolysis, also known as splitting or cracking. Ekona’s solution uses combustion and high-speed gas dynamics in a reactor to separate feedstock methane into solid carbon and hydrogen, which reduces carbon dioxide emissions.
“This strategic investment further demonstrates our commitment to advancing new energy frontiers by accelerating the pace at which novel technologies are being brought to market,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “Through the adoption of this technology, the industry can leverage existing and abundant natural gas reserves to produce lower carbon hydrogen and accelerate its use across the energy value chain.”
For his part, Chris Reid, CEO of Ekona Power Inc. “Our innovative technology has the potential to produce hydrogen at costs on par with conventional steam methane reformers, while drastically reducing greenhouse gas emissions. In addition, our solution isn’t reliant on CO2 sequestration, so it has the potential to be quickly and broadly deployed across various industries and market regions. This important investment from Baker Hughes who is an established global player is a key step to commercializing our technology.”