Monolith and SK Inc are pursuing a joint venture for the production of clean hydrogen and carbon black products in South Korea.
Under the Memorandum of Understanding, Monolith will share its production and technology knowledge with SK Inc to produce hydrogen and solid carbon products while the South Korean firm will oversee the production, sales and distribution of these products.
Monolith has developed a process technology that uses 100% renewable energy to convert natural gas into clean hydrogen and a solid carbon material called carbon black, used in the automotive and industrial sectors.
It is currently operating its first commercial-scale production facility in Hallam, Nebraska and plans to produce clean ammonia at a second phase production plant in the same state.
Monolith CEO Rob Hanson said: “Monolith believes that for a global challenge like decarbonisation, global collaboration is needed.
“We’re eager to continue our collaboration with SK Inc. to ensure cleanly-produced hydrogen and carbon products are available around the world.”
Moohwan Kim, Executive Vice President, SK Inc added: “Climate change is requiring markets around the world to dramatically transform their energy systems and in a broader sense, their value chain as a whole to reduce adverse impact on the environment.
“SK Inc plans to collaborate with Monolith to expand its technologies globally and support our goal of creating new models for clean energy.”