Netsuite and Addovation: powering Hycamite’s innovation growth
Hycamite scales their innovation with Addovation and Netsuite. Read the customer story here.
Hycamite TCD Technologies was established in 2020 in Kokkola, Finland, under the leadership of Matti Malkamäki, Laura Rahikka, and Niina Grönqvist. Located in the Kokkola industrial area, this TCD technology company has developed a unique process for producing clean hydrogen. In the process, methane is converted into hydrogen and solid carbon. This CO2-free process is both energy-efficient and environmentally friendly.
Addovation Oy partnered with Hycamite to implement the Oracle NetSuite system. After a few months of implementation, NetSuite has been in use for the past six months. Addovation’s NetSuite consultants, Jussi Penttinen and Mikael Mäkitalo, visited Kokkola in early summer to get acquainted with Hycamite’s staff and their unique hydrogen technology.
International Growth and Emission Reduction with Hycamite
Laura Rahikka, the CEO and founder of Hycamite TCD Technologies Oy, simplifies the process for the audience: “We have developed a process where methane, with the help of heat and a catalyst, is converted into clean hydrogen and solid carbon. We utilize raw materials such as LNG, biogas, e-methane, or methane-rich by-products from industrial processes.”
Hycamite stands out from its competitors, particularly in terms of catalyst and carbon expertise. The catalyst lowers the reaction temperature, which positively impacts process energy efficiency and the quality of the carbon product. “Hycamite’s energy demand is only 13 percent compared to hydrogen produced by electrolysis,” says VP Carbon products and founder Niina Grönqvist. “Extensive calculations have been made regarding the carbon footprint of our process. Even when using natural gas as the feedstock, our process’s carbon footprint is only 0.59 kg/CO2 per kilogram of produced hydrogen, according to a study by the German FfE Research Institute. On the other hand, if we use carbon-neutral biogas, our hydrogen becomes carbon-negative”, Rahikka explains.
Business Scalability with NetSuite
The clean hydrogen produced by Hycamite can significantly reduce industrial emissions. For example, replacing natural gas with hydrogen results in water vapor emissions. Another practical example of a cleaner circular economy highlighted by Niina Grönqvist is the battery industry for vehicles, where Hycamite’s carbon-negative carbon product can be used as a raw material.
“Reducing carbon dioxide emissions is a common global goal for the entire value chain. Customers are now highly aware of emissions, so industries must consider these requirements in their business operations. The price of raw materials is secondary as long as they are environmentally friendly,” comments Natascha Skog, VP Hydrogen.
From left: Niina Grönqvistin, Laura Rahikka and Matti Malkamäki
Innovation at Hycamite
Innovation at Hycamite
Addovation’s Role as a Partner to Hycamite
Hycamite aims to internationalize its easily scalable innovation. In the near future, the primary target markets will be North America, Europe, and Japan, for which NetSuite offers comprehensive localization as an international financial system.
“The new financial system required scalability and support for local requirements. NetSuite impressed us with its clear user interface and manageability. We can genuinely influence the system’s features and make changes as needed. NetSuite’s Stairway approach, where functionalities can be introduced alongside a company’s growth, is particularly cost-effective for a startup company,” comments Susanna Rönnqvist, CFO.
Addovation possesses extensive experience in successfully implementing Netsuite for businesses of varying sizes. Should you be interested in discovering how we can facilitate the expansion of your business, please don’t hesitate to get in touch with us!
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