Cambridge-based Levidian’s vision of a decarbonised world powered by hydrogen and built on graphene has received a powerful endorsement via a £12 million investment from US energy technology giant Baker Hughes.
The money and the expertise provided by Baker Hughes heightens the profile of Levidian’s world-first decarbonisation technologies and opens up fresh global collaboration opportunities.
The cash injection will enable the further scale-up of Levidian’s business, including both LOOP – Levidian’s decarbonisation device – and graphene production capacities at the company’s Cambridge headquarters.
The tie-up accelerates Levidian’s ability to capitalise on significant interest in its groundbreaking work.
Levidian’s LOOP technology decarbonises methane by cracking it into its components: carbon (in the form of graphene) and hydrogen. The hydrogen can be used immediately as a hydrogen-rich gas blend, supporting industrial decarbonisation, or separated and stored.
The graphene can be added to a wide range of materials to extend their life, improve their performance and deliver additional decarbonisation benefits. This technology will enable Baker Hughes to expand its current core offerings and provide decarbonised solutions to adjacent sectors and industries.
Levidian CEO John Hartley said: “This investment comes at a critical phase of our development. Baker Hughes has a long track record in energy technology and their expertise will be valuable as we scale Levidian quickly to meet the growing demand for decarbonisation, especially from the industrial sectors. Their commitment is a strong endorsement of our LOOP technology, our graphene, and our team.”
Luca Maria Rossi, VP – New Frontiers at Baker Hughes, added: “We continue to show our commitment to advancing our climate goals by investing in innovative technologies.
“Graphene is a game-changing material for many applications and Levidian’s technology stands out with its consistent high-quality product. The joint production of graphene and hydrogen will also enable economically effective decarbonization of hard-to-abate sectors.”
Rossi will sit on the Levidian board, further deepening the relationship and establishing a route to ongoing support and collaboration.
Nasdaq-quoted Baker Hughes provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, its mission is to make energy delivery safer, cleaner and more efficient for people and the planet.