Tulum Energy has successfully secured $27 million in venture financing to further develop its groundbreaking turquoise hydrogen technology, based on methane pyrolysis. The investment round was led by CDP Venture Capital and TDK Ventures, with participation from prominent investors such as MITO Technology and Doral Energy Tech Ventures. The company's methane pyrolysis process allows for the production of clean hydrogen and solid carbon from natural gas or biogas feedstock, presenting a sustainable alternative with no CO2 emissions. Tulum Energy's CEO, Massimiliano Pieri, highlights the scalability and energy efficiency of their technology, emphasizing its ability to meet the demands of large industrial consumers at competitive costs. The company plans to use the funding to construct a pilot plant in Pesquería, Mexico, in collaboration with Ternium, to cater to industries like refineries and chemical plants. Through a strategic partnership with Tenova, Tulum Energy repurposes existing machinery from the steelmaking industry to produce turquoise hydrogen. Leveraging Tenova's expertise and supply chain, the company aims to swiftly move from the pilot phase to establishing a full-scale commercial plant, reducing time and capital requirements. The investment from CDP Venture Capital aims to support the establishment of Tulum Energy's Italian subsidiary in Milan, focusing on enhancing the manufacturing supply chain and research excellence. The company's innovative methane pyrolysis technology is seen as a crucial step in industrial decarbonization, attracting investors committed to sustainable solutions for hard-to-abate sectors.