Conenergy bets on green hydrogen firm The Yellow SiC Group
Source: Ramboll Group A/S.
German energy-focused consulting and services company Conenergy has invested in The Yellow SiC Group, a local start-up that develops technology for renewable hydrogen production even in less sunny regions.
The financial details of the transaction were kept under wraps.
Founded in 2022, YellowSiC has developed a new material that can produce hydrogen in a one-step process using only sunlight and water, without electrolysis. The company uses direct photocatalysis through ultra-high purity silicon carbide (3C SiC), which serves as the catalyst.
The Berlin-headquartered firm plans to open its first pilot production plant in early 2025. The facility will be located in Osnabrueck, Lower Saxony. This and similar sites to be built are expected to span 150 acres each and save 56,000 tons of carbon dioxide per year.
Conenergy has so far been operating as a consulting and service company for the energy industry. The Essen-based firm earlier this week announced a plan to separate from its operating entities and shift its focus on investments in start-ups and transform itself into an investment holding company.