Cemex Ventures in Madrid, Spain, has increased its stake in UK-based HiiROC.
Founded in 2019, HiiROC is a UK-based startup that produces cost-competitive and zero-emission hydrogen through its proprietary process of thermal plasma electrolysis. While hydrogen is becoming an increasingly promising alternative energy source and feedstock for a wide and diverse set of industrial processes, existing solutions are traditionally either high emission or high cost. Alternatively, HiiROC’s technology stands out producing high grade hydrogen that requires a fraction of the energy consumed by water electrolysis, and avoids the need for intensive Carbon Capture, Utilization, and Storage (CCUS) methods required for traditional steam methane reforming. Furthermore, HiiROC’s production units are modular and scalable, use no water, and carbon black, a co-product of the hydrogen production process, becomes an additional area of opportunity to further decarbonize heavy industries.
Through its corporate venture capital arm, Cemex initially invested in the breakthrough startup in 2022 and is planning large-scale deployment of HiiROC’s thermal plasma technology to reduce its consumption of fossil fuels and help decarbonize its operations. With this strategic partnership, Cemex intends to initially increase its hydrogen injection capacity at its crucial cement plant at Rugby, United Kingdom and expects to eventually deploy HiiROC’s technology gradually across its EMEA operations.
