LOUISVILLE, Ky.--(BUSINESS WIRE)--Pyrochem Catalyst Company (“PCC” or the “Company”), a leading catalyst manufacturing company, has completed the spin-off of its equity ownership of PCC Hydrogen, Inc. (“PCC Hydrogen”). The spin-off was completed, effective December 31, 2022, through a special warrant of shares of PCC Hydrogen Common Stock to existing PCC shareholders of record as of that date. PCC will retain one non-participating preferred Series A share of PCC Hydrogen. The spin-off creates two standalone companies positioned for growth in the emissions mitigation and green energy markets.
PCC and PCC Hydrogen will retain a strong commercial collaboration that preserves the most valuable parts of the companies' relationship, such as the co-development of critical catalyst solutions and alignment on sales and marketing activities, while allowing strategic flexibility.
"Today marks an important milestone for both PCC and PCC Hydrogen. We are unlocking considerable opportunity for PCC Hydrogen in the burgeoning green hydrogen economy, while maintaining our close partnership in catalyst innovation, deployment, and support for our customers," said Timothy Fogarty, Chief Executive Officer, PCC. "At the same time, we are full speed ahead with the development of our novel hydrogen production process, capturing opportunities in areas where green hydrogen is an important driver for decarbonization."
PCC and PCC Hydrogen, now as standalone entities, are positioned for robust growth in the emissions mitigation and green energy markets.
About PCC
PCC has developed novel catalyst materials for applications ranging from automotive exhaust emissions mitigation to fuel reforming. The Company leverages its patented manufacturing process to produce commercial quantities of catalyst material for its commercial applications.
Learn more at: https://pyrochemcatalyst.com/
About PCC Hydrogen
PCC Hydrogen is developing a groundbreaking method to produce either low or negative carbon index hydrogen from ethanol and other renewable fuels in a distributed and cost-effective way. This innovative patent-pending process also allows for easy capture of its pure CO2 byproduct gas, enabling production of negative carbon index hydrogen.
Learn more at: https://www.pcchydrogen.com/
