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- Molten Industries Secures $25M Series A to Lead in Clean Graphite and Hydrogen Production
Molten Industries Secures $25M Series A to Lead in Clean Graphite and Hydrogen Production
Slice of Energy Team
June 24, 2024
Key Highlights:
$25M Series A funding led by Breakthrough Energy Ventures.
New investors include Sozo Ventures, Mark Heising, and Steelhead Capital.
Funds to build first modular commercial reactor in Oakland.
Focus on producing graphite for lithium-ion batteries and clean hydrogen.
Co-founders: Dr. Caleb Boyd and Dr. Kevin Bush.
Source (Business Wire)
Notable Quotes:
“Establishing reliable sources of critical materials like graphite is essential to supporting the transition to EVs at scale. Molten has developed a process that not only enables the domestic production of graphite, but also at a lower cost, and while creating a highly valuable hydrogen co-product.”
“Clean liquid fuels, ammonia for fertilizers, plastics, and green steel all require a hydrogen feedstock that can compete on cost with petroleum-based products. Molten’s methane pyrolysis technology solves this pain point.”
Our Take:
Molten Industries' innovative approach to converting natural gas into clean graphite and hydrogen positions it as a significant player in the energy transition. The successful Series A funding highlights strong investor confidence in Molten's potential to revolutionize the battery supply chain and contribute to decarbonizing heavy industries. By addressing critical material shortages and offering a cost-effective, domestic solution, Molten is set to play a vital role in scaling up EV manufacturing and reducing industrial carbon footprints. This strategic move not only strengthens the U.S. supply chain but also aligns with global efforts to achieve net-zero emissions.