Monolith Materials

About Monolith Materials

Monolith Materials, founded in 2012 by Rob Hanson and Pete Johnson, is a chemical and materials production company at the forefront of clean technology. The founders, with a vision for an enterprise that is both environmentally transformative and financially sound, initially established the company as Boxer Industries in Redwood City, California. Hanson, now the CEO, previously served as the global director of product management at AREVA Solar, and his co-founder Johnson shared the goal of finding a business idea that could sustainably replace oil with natural gas. After a successful pilot program, the company relocated its headquarters to Nebraska in 2018 to leverage the state's abundant renewable energy resources.

The company's core business revolves around a proprietary methane pyrolysis process. This technology uses renewable electricity to heat natural gas to high temperatures in the absence of oxygen, breaking it down into its constituent elements: solid carbon and hydrogen gas. This process is a significant departure from traditional methods, which typically involve combustion and result in substantial greenhouse gas emissions. Monolith's method, by contrast, produces virtually zero direct emissions and can even be carbon-negative when using renewable natural gas as a feedstock.

Monolith's primary products are carbon black and clean hydrogen. Carbon black is a crucial material used as a reinforcing agent in tires and other rubber products, as well as a pigment in inks, plastics, and coatings. The company serves major clients in these industries, including a partnership with The Goodyear Tire & Rubber Company. The clean hydrogen produced is a versatile co-product with multiple applications. A significant portion will be converted into anhydrous ammonia, a key component of agricultural fertilizers, serving farmers in the American Corn Belt. This positions Monolith as a key player in decarbonizing both the materials and agricultural sectors. The business model centers on selling these two high-value commodities, produced with a significant environmental advantage over incumbent processes.

A key milestone was the completion of its first commercial-scale facility, Olive Creek 1 (OC1), in Hallam, Nebraska, which began production in 2020. This facility was the first of its kind globally and the first new carbon black plant built in the U.S. in several decades. The company is now expanding with a much larger facility, Olive Creek 2 (OC2), which is expected to significantly scale up production of both carbon black and ammonia. The expansion has been supported by substantial funding rounds from prominent investors like TPG Rise Climate, Warburg Pincus, and Decarbonization Partners, as well as a conditional loan from the U.S. Department of Energy.