Clean hydrogen production gets investment boost from Mitsubishi HeavyDecember 3, 2020
Monolith Materials received the support for its commercial-scale, emissions-free H2 manufacturing tech.
Mitsubishi Heavy Industries America, Inc. has invested in Monolith Materials, Inc. for the development of its commercial-scale manufacturing technology for clean hydrogen production.
This announcement is one of several in a series of Mitsubishi Heavy’s recent strategic investments.
The goal of Mitsubishi’s investment into Monolith Materials’ clean hydrogen production research is a component of its efforts to support a target of a decarbonized world. Monolith Materials is the first manufacturer in the United States to produce what’s known as “turquoise hydrogen” at a commercial scale.
Monolith Materials’ first commercial-scale emission-free production facility is Olive Creek 1, located in Hallam, Nebraska. That facility was designed for the production of about 14,000 metric tons of carbon black every year using clean hydrogen. Monolith is using innovative and proprietary commercial-scale methane pyrolysis development for manufacturing economically sustainable and emissions-free H2 powered by 100 percent renewable energy. In this way, the resulting renewable energy is known as “turquoise hydrogen.”
Monolith Materials is focusing on clean hydrogen production after using fossil fuels since 2012.
“By solving the century-old problem of scaling methane pyrolysis to a commercial level, Monolith Materials has emerged as a leader in the manufacture of emissions-free hydrogen. While we’re evaluating a number of clean-energy development options, Monolith offers great promise. We’re excited to be the first in a new wave of strategic investors supporting the development of their technology,” said Mitsubishi Heavy Industries America CEO and President Yoshiro Shiraiwa.
Monolith developed a process that transforms natural gas into clean hydrogen and carbon black, a solid carbon material. Carbon black is a vital raw material used in the industrial and automotive sectors. Beyond producing carbon black as a part of its clean hydrogen production, the company also announced its plans for producing emissions-free ammonia at Olive Creek 2, a second facility in Hallam Nebraska. This project could decrease greenhouse gas emissions by up to 1 million metric tons per year when compared to the traditional processes used for manufacturing, said the company.
Monolith has the backing of Cornell Capital LLC, Azimuth Capital Management, Warburg Pincus, and Imperative Ventures.