When Joel Eriksson, CFO at Hymeth, received a call from the chairman of the board at Hymeth in 2021, it was a call that would change his career trajectory. With a background in industrial economics and management consulting, Joel had long wanted to contribute to the green transition, seeking not just to accumulate value, but impact. The call was an opportunity to dive into the world of green hydrogen and become part of a mission-driven startup that promises to disrupt the energy sector.
Hymeth, a spin-off from Copenhagen Business School (CBS) and the Technical University of Denmark (DTU), was founded on patented innovations in electrolyzer technology.
Electrolyzers, the heart of Hymeth’s business, split water into hydrogen and oxygen using renewable electricity”, says Joel, “a process that is crucial for producing green hydrogen, which is essential for decarbonizing sectors like transportation, industry, and energy storage.”
The Hymeth Advantage
Today’s hydrogen market, valued at over $140 billion, is largely dominated by grey hydrogen, produced from fossil natural gas.
“We aim to replace this with green hydrogen, generated using renewable electricity such as solar or wind.”
Joel explains that while electrolyzers have been around for decades, most current systems face critical trade-offs. Hymeth’s innovation focuses on alkaline electrolyzers, a proven technology known for durability and simplicity.
“Traditional alkaline systems have lower efficiency and rely on complex electrode coatings.”
“We have overcome these challenges with a new design that eliminates the need for precious metals (used in competing technologies like PEM (Proton Exchange Membrane electrolyzers) while achieving high energy efficiency comparable to and exceeding PEM systems.”
This breakthrough makes Hymeth’s electrolyzers cost-effective, durable, and scalable.
“Our secret sauce,” Joel says, “lies in the high efficiency of our technology and our proprietary method for pressurizing hydrogen.”
Field Testing and Commercialization
In 2023, Hymeth launched a demonstration project with (former) NilssonEnergy.
“We are launching another demonstration project to test our electrolyzers in real-world conditions.”
Unlike lab environments, field deployments introduce variables like fluctuating humidity and temperature, pushing the technology to prove its robustness:
“We have run hundreds of operational hours in-house, but the real challenge is seeing how the system performs in the field,” Joel explains, “But a real demonstration provides valuable operational data and validates the system’s performance over time.”
Hymeth’s target customers include farmers and businesses with solar installations, who can use electrolyzers to convert excess renewable energy into hydrogen for local consumption or sale. The technology is designed to be integrated with carbon capture to produce e-methane, offering a pathway to renewable fuels.
Scaling Up and Partnering for the Future
Hymeth is currently transitioning from pilot projects to full commercialization, aiming to deliver multiple units at 25 kW and a 250 kW prototype before scaling further.
To support this, they have secured investment, including backing from FAM, the industrial holding company within the Wallenberg sphere, renowned for its expertise and network.
Joel emphasizes the importance of partnerships in this phase:
“We excel at electrode manufacturing and electrolyzer innovation, but scaling production requires collaboration. We are seeking partners with industrialization expertise to accelerate deployment.”
By the end of 2025, Hymeth plans to expand the organization and double the team, and are now focused on delivering market-ready products and securing strategic partnerships to enable scaling.
A Vision for Green Energy
Hymeth’s mission is clear:
“We want to make green hydrogen cost-competitive with grey hydrogen and contribute to the global shift toward sustainable energy.”
As Joel puts it, “We are not ‘just’ innovating; we are building a future where green hydrogen is not just an alternative, it is the standard.”
Hymeth aims to become Europe’s leading electrolyzer manufacturer, driving the green hydrogen revolution with cost-effective and high-efficiency solutions.
Read more: www.hymeth.com
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