Tulum Energy, a Milan-based startup focused on methane pyrolysis, has successfully raised US$27 million in venture financing. The funding round, led by CDP Venture Capital's Green Transition Fund and TDK Ventures, with additional contributions from TechEnergy Ventures, MITO Technology, and Doral Energy Tech Ventures, will advance the company's clean hydrogen production technology.

Tulum Energy's method creates clean hydrogen, also called turquoise hydrogen, and solid carbon from natural gas or biogas without CO2 emissions. CEO Massimiliano Pieri stated that their technology offers high scalability and energy efficiency by repurposing existing steelmaking machinery.

The investment will fund two key initiatives, including a pilot plant in Pesquería, Mexico, hosted by steel producer Ternium, and establishing an Italian subsidiary in Milan for research, development, and engineering activities. This enables Tulum Energy to meet the growing industrial demand for hydrogen through cost-effective decarbonization solutions.