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- Monolith Secures Funding to Scale Clean Hydrogen and Carbon Black Production
Monolith Secures Funding to Scale Clean Hydrogen and Carbon Black Production
Slice of Energy Team
September 30, 2024
Key Highlights:
Monolith secures funding from existing investors to expand clean energy production facilities.
Proprietary plasma pyrolysis process powers sustainable hydrogen and carbon black production.
Expansion will produce clean hydrogen for ammonia fertilizers in America's Corn Belt.
Department of Energy loan approval supports scaling of Nebraska facilities.
Source: PR Newswire
Notable Quotes:
"It is an exciting time for Monolith, and we are incredibly proud of the work we are doing to scale the business supported by world-class investors."
"The company's proprietary approach to producing sustainable hydrogen, carbon black, and ammonia is critical to decarbonizing the energy and materials sectors."
"Rob and the team at Monolith continue to successfully navigate the road toward launching their expansion, which will significantly scale their operations."
Our Take:
Monolith’s recent funding round underscores the growing investor confidence in clean energy technologies. With backing from major players like Azimuth, Warburg Pincus, and TPG Rise Climate, Monolith is positioned to lead in decarbonizing traditionally hard-to-abate sectors. Its innovative plasma pyrolysis process promises significant emissions reductions, especially as it scales production of clean hydrogen and carbon black—both essential to industries like agriculture and manufacturing. This expansion not only enhances its market reach but also aligns with global sustainability goals, setting Monolith up as a critical player in the energy transition.