Monolith Materials Secures Funding for Clean Hydrogen and Carbon Black Expansion
Key Ideas
- Monolith Materials, based in Lincoln, NE, receives additional funding from various backers for its clean hydrogen and carbon black production.
- The company plans to use the funds to support its commercial growth and expand operations, focusing on clean energy technologies.
- Monolith's proprietary plasma pyrolysis process enables the electrified production of carbon black and hydrogen, offering environmental advantages over traditional methods.
- The clean hydrogen produced will be converted to ammonia for use as fertilizer, aligning with the company's sustainable approach to agriculture and energy solutions.
Monolith Materials, headquartered in Lincoln, NE, has secured undisclosed funding from investors including Azimuth V Energy Evolution Fund, Cornell Capital, and TPG Rise Climate, among others. The company, under the leadership of CEO Rob Hanson, specializes in clean hydrogen and carbon black production. This funding will be utilized to drive commercial growth and expand their operations. Monolith's innovative plasma pyrolysis process, powered by clean energy, revolutionizes the production of carbon black and hydrogen, offering significant environmental benefits. The company's current facility produces carbon black used in various industrial applications, while the upcoming expansion will focus on generating clean hydrogen for conversion into ammonia. This ammonia will serve as a sustainable fertilizer for farmers in America's Corn Belt, contributing to both agricultural productivity and environmental preservation. Monolith's commitment to clean energy technologies and sustainable practices underscores its mission to provide essential materials while minimizing ecological impact.