European Commission selects Hycamite as a Strategic Project
The European Commission (EC) has added Hycamite's graphite production to the list of Europe's most important raw material projects. The EC announced 47 Strategic Projects under the Critical Raw Materials Act (CRMA) to strengthen Europe’s access to essential materials. Six Finnish projects related to the extraction, processing and recycling of metals were selected.
Hycamite’s methane-splitting technology enables the low-carbon production of critical minerals where they are needed. Unlike traditional mining operations, Hycamite's process does not rely on specific geographical locations. It is scalable to meet market demands and can be set up anywhere globally, close to industrial end-users. This flexibility enhances supply security and supports Europe’s ambition to build resilient value chains for batteries, fuel cells, and other key technologies.
Being granted Strategic Project status brings advantages, including better access to EU funding through priority consideration in EU grant programs, a faster permitting process through a streamlined maximum approval timeline of 15 months for processing and potential national funding. A financing group will also help fast-track these capital-intensive initiatives, offering public guarantees from national banks, the European Investment Bank, and the European Bank for Reconstruction and Development to attract private investment.
Hycamite demands changes to the EU hydrogen regulations.
"The upcoming Low Carbon Hydrogen Delegated Act should recognise methane splitting as a key technology. Without methane splitting, Europe will struggle to secure the critical raw materials needed for its energy transition. By incorporating this process, the EU can not only advance clean hydrogen production but also ensure a stable domestic supply of strategic minerals like graphite", the company states.
