Monolith Materials (Lincoln, NE) has announced new investments to support its growth in the areas of carbon black and clean hydrogen. The new investments come from a consortium of investors led by Korea’s SK Inc. and includes NextEra Energy Resources, LLC and Perry Creek Capital. This round also included additional investments from current Monolith funders Azimuth Capital Management, Cornell Capital, and Warburg Pincus. The additional funds will support Monolith’s further development of commercial-scale, clean hydrogen manufacturing technology. According to the company, Monolith Materials is the first U.S. manufacturer to produce “green hydrogen” on a commercial scale using its proprietary methane pyrolysis process. This allows the production of clean, economically sustainable hydrogen using 100% renewable energy. Monolith Materials plans to collaborate with SK on expanding global markets for green hydrogen while also working with NextEra Energy Resources on North America growth opportunities.
Monolith Materials is currently in the operating stage of its first commercial-scale carbon black production facility in Hallam, Nebraska. The new facility uses renewable electricity to convert natural gas into carbon black and hydrogen. Monolith also recently announced plans to produce clean ammonia at a second phase production facility nearby.