OTTAWA, ON (November 03, 2022) NGIF Industry Grants, a division of NGIF Capital Corporation, is proud to announce its support for Hyperion Global Energy Corp’s (Hyperion) proprietary carbon utilization technology. With $425,000 in non-dilutive funding, Hyperion will demonstrate its market-ready solution to reduce waste emissions from hard-to-abate industries and transform them into valuable materials.
Based in Ottawa, Canada, Hyperion is a leading developer in the carbon-to-value space, having prototyped its first system as part of the COSIA Carbon XPRIZE. NGIF funding will support the scale-up and field testing of its patented system, enabling a major leap forward in commercialization and bringing the technology to market.
Image: Hyperion’s ‘Tandem Carbon Recycling’ System rendering (left) and COSIA Carbon XPRIZE Prototype (right)
Hyperion has developed a first-of-its-kind ‘Tandem Carbon Recycling’ system designed to capture and convert waste carbon dioxide emissions from heavy industries into some of the world’s most highly used mineral commodities. The modular, drop-in system uses proprietary technology to transform waste CO2 emissions captured directly at the source of industrial smokestacks, reducing the carbon footprint of industry, and creating affordable, sustainable materials and new revenue streams through the sale of its high-purity mineral offtake products.
These include high-value precipitated calcium carbonate (PCC), a fine mineral powder used in a range of industries, from performance concrete and green building materials to agriculture, pharmaceuticals and sustainable packaging. Hyperion’s ‘Made-in-Canada’ solution taps into a growing global mineral market worth more than US$44B annually, demonstrating a viable path to market and returning a profit on the cost of carbon removal.
“With this first industry grant to Hyperion, NGIF continues our interest in the technology development of recycling waste carbon emissions into valuable mineral commodities. This technology is positioned to offer a practical and economical way to capture and convert emissions into vital materials,” said John Adams, President and CEO of NGIF Capital Corporation and Managing Partner of NGIF Cleantech Ventures. “NGIF Industry Grants focus on startups de-risking their clean technologies through field trials and pilots is part of NGIF’s integrated model of industry validation, customer creation, and market commercialization.”
Over the course of the pilot project, Hyperion and its partners will collaborate to demonstrate the scale-up and market potential of its modular 1T CO2 per day unit, housed in a self-contained shipping container. The turn-key solution will be tested and optimized on both a pure natural gas stream and stack gas from a cement manufacturing plant, showcasing the versatile application and use cases for the technology and providing valuable market validation. In the future, Hyperion’s utilization technology may be used at scale to convert large volumes of CO2 from other sources of carbon removal, including Direct Air Capture projects.
“Today’s announcement is a major milestone in the development and scale-up of our patented Tandem Carbon Recycling technology. We designed the solution to be turn-key for industry and are excited to offer immediate CO2 emission reductions to host sites,” says Jerry Flynn, Hyperion’s Chief Technology Officer and Co-Founder. “This critical funding from NGIF helps further our mission to provide practical and economical decarbonization solutions to multiple industries over the next decade.”
“Canadians want and need the affordable, reliable, clean energy service offering they have come to expect from the natural gas industry. When we created NGIF, it was our vision to bring the entire natural gas value chain together to support cleantech development that enhances environmental and economic performance for the sector. I am glad to see our vision in action, as NGIF continues to support technologies like Hyperion’s proprietary carbon utilization technology,” said Timothy M. Egan, President and CEO, Canadian Gas Association and Chair, NGIF Capital Corporation.
About NGIF Industry Grants
NGIF Industry Grants is a first-of-kind, industry-led grant organization to fund early-stage startups developing solutions to environmental and other challenges facing Canada’s natural gas sector. NGIF Industry Grants develops, demonstrates, and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen. The organization has built a portfolio of startups, trusted partnerships with the government for co-funding opportunities, and a robust technical evaluation investment model. NGIF Industry Grants is operated by NGIF Capital Corporation.
About NGIF Capital Corporation
NGIF Capital Corporation is a Canadian venture capital (VC) firm offering grant and equity financing for startups that deliver solutions to the environmental and other challenges facing the natural gas sector. NGIF Capital Corporation is unique in how it brings Canada’s energy industry leadership to every investment. Like other VCs, it takes new companies and their ideas from concept to commercialization. Unlike other VCs, NGIF Capital Corporation has strong connections to every part of the gas value chain, from production through to end-use, offering it a means to test, develop, and accelerate the commercial implementation of innovative gas technology wherever it fits in the sector. The model benefits consumers, investors, and Canadian society as a whole. NGIF Capital Corporation operates NGIF Industry Grants (the original Natural Gas Innovation Fund), the NGIF Emissions Testing Centre, and NGIF Cleantech Ventures. NGIF Capital Corporation is wholly owned by CGA Enterprises, a venture of the Canadian Gas Association.
About Hyperion Global Energy
Hyperion is an early-stage carbontech company developing patented ‘Tandem Carbon Recycling’ technology that captures and converts waste carbon dioxide emissions from hard to abate industries. The company has created a first-of-its-kind modular drop-in unit (based in a shipping container) that captures emissions from industrial plants and transforms them into valuable mineral commodities. Hyperion recently completed its commercial system scale-up and is approaching its pilot launch with major industrial players, as part of its mission to provide market-ready, scalable solutions that can play a key part of the transition to a low-carbon economy, while accelerating lower GHG emissions for industry.
Headquartered in Ottawa, Canada, the Hyperion team has been global semi-finalists in the Carbon XPRIZE competition and is part of the Techstars portfolio (Equinor & Techstars Energy, Oslo). Its technology is proudly made and manufactured in Canada, with early backing from Sustainable Development Technology Canada, National Research Council of Canada Industrial Research Assistance Program, and an industry-led grant from the Natural Gas Innovation Fund. The company’s early investors include Capital Angel Network and Thistledown Capital, the private fund of Shopify founder Tobi Lutke and wife Fiona McKean to advance tech solutions for decarbonization. For more information, visit: www.hyperionenergy.ca
The Canadian Gas Association (CGA) is the voice of Canada’s gaseous energy delivery industry, including natural gas, renewable natural gas (RNG) and hydrogen. CGA membership includes energy distribution and transmission companies, equipment manufacturers, and suppliers of goods and services to the industry. CGA’s utility members are Canadian-owned and active in eight provinces and one territory. CGA members meet 38 per cent of Canada’s energy needs through a network of over 577,000 kilometres of underground infrastructure. The versatility and resiliency of this infrastructure allows it to deliver an ever-changing gas supply mix to over 7.4 million customer locations representing approximately two-thirds of Canadians. CGA members ensure Canadians get the affordable, reliable, clean gaseous energy they want and need. CGA is also working to constantly improve that gaseous energy offering, by driving forward innovation through the Natural Gas Innovation Fund (NGIF).
President and CEO, NGIF Capital Corporation
Managing Partner, NGIF Cleantech Ventures