Savant Venture Fund co-invests in South African hydrogen producer
Savant Venture Fund co-invests in South African hydrogen producer
Sibanye-Stillwater, a multinational mining company, and Savant Venture Fund, a technology and engineering investment firm, have made an investment in BurnStar, a South African hydrogen company.
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Sibanye-Stillwater, a multinational mining and metals group, and Savant Venture Fund, a technology and engineering investment firm, have made a strategic investment in BurnStar, a South African clean hydrogen company.
BurnStar leverages its patented liquid metal reforming process for the production of hydrogen. This technology allows BurnStar to convert methane, LNG, or LPG feedstock through methane pyrolysis into high-purity hydrogen, with near-zero carbon dioxide emissions.
Sibanye-Stillwater recognises the opportunity of hydrogen as a clean energy source to drive the decarbonisation of high-emitting and hard-to-abate industries.
The Sibanye-Stillwater iXS programme, facilitated by Savant, was launched in October 2021 as an innovation investment initiative aimed at identifying, incubating, developing and scaling innovators and innovations for a modern mining and mineral ecosystem.
“We are thrilled to be investing in Johan Brand and his team as they commercialise what we believe to be a world leading technology in clean hydrogen production. The BurnStar solution has strong commercial promise in both industrial processing application and clean energy storage. This investment will demonstrate the first step towards paving the way for guilt-free hydrogen applications both locally and internationally,” says Francois Malan, partner at Savant.
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