Hogan Lovells advises Sojitz Corporation on its investment in Hycamite TCD Technologies Oy
Tokyo, 19 July 2023 – Global law firm Hogan Lovells has advised its long standing client, Sojitz Corporation (Sojitz), on its investment in Hycamite TCD Technologies Oy (Hycamite), a developer of next-generation proprietary catalytic technology for use in the production of “turquoise hydrogen” which has been described as a potential game-changer in the transition to cleaner energy.
Sojitz’s investment, coupled with simultaneous investments by other parties, will allow Hycamite to construct a demonstration plant in Finland, which is expected to commence the production of turquoise hydrogen within 2024. It will also allow Sojitz to partner with Hycamite to develop and promote commercial-scale hydrogen projects both in Japan and throughout the world, which will be of significant benefit in ongoing efforts to introduce and expand upon proven decarbonisation methods across numerous industries.
The transaction was led by Corporate and Finance partners Jacky Scanlan-Dyas (Tokyo) and Laurence Davidson (Hong Kong), and associates Jordan Bird (Tokyo) and Ray Dunn (Tokyo).
Jacky Scanlan-Dyas commented, “We are truly delighted to have supported Sojitz on this transaction, which is another important milestone in Sojitz’s ongoing commitment to effect environmentally sustainable change.”