Milan-based startup Tulum Energy, specializing in clean hydrogen solutions for industrial applications, has successfully raised €22.9 million in a Seed funding round. The investment was co-led by TDK Ventures and CDP Venture Capital, with participation from Doral Energy-Tech Ventures, MITO Tech Ventures, and TechEnergy Ventures. Founded in 2024 as a spinoff from Techint Group, Tulum Energy focuses on providing a scalable, efficient, and cost-effective alternative to conventional hydrogen production. Their innovative method utilizes electric arc furnace technology to achieve hydrogen production at costs comparable to grey hydrogen while reducing greenhouse gas emissions by up to 95%. The funding will be used to build Tulum Energy's pilot plant in Pesquería, Mexico, located within the industrial complex of Ternium, a leading steel company in Latin America. By repurposing EAF technology, the company aims to address the high costs and infrastructure challenges associated with clean hydrogen solutions, offering high efficiency with significantly lower energy consumption compared to other methods. This scalability allows Tulum Energy to cater to the massive scale demands of existing hydrogen users, positioning them uniquely in the market. The company anticipates production costs equivalent to grey hydrogen even without subsidies and requires less land and enables on-site production, reducing transportation costs for industrial applications. Tulum Energy is led by CEO and Co-founder Massimiliano Pieri and CTO Donald Kendrick.