Solid carbon can be used in the manufacturing of tyres
Turquoise hydrogen firm raises $300mn finance
Developer Monolith has obtained finance from a range of investors as it looks to expand the company and invest in R&D
Turquoise hydrogen developer Monolith has raised more than $300mn in a funding round. The bulk of the investment came from asset managers TPG, Blackrock and Temaset, with investment funds Nextera Energy Resources, SK, Azimuth Capital Management and manufacturer Mitsubishi Heavy Industries America also contributing. Monolith claims to be the first US manufacturer to use methane pyrolysis at scale to produce what is often referred to as turquoise hydrogen. Methane pyrolysis directly splits methane into hydrogen and solid carbon, also known as carbon black. Carbon black is a raw material that can be used in the automotive and industrial sectors, principally in tyre manufacturing. “We are
Also in this section
23 May 2025
Investors remain committed to development but are waiting on greater international market certainty
22 May 2025
The government has ambitions to scale up production and become a major exporter by the end of the decade
21 May 2025
Half of winning bidders are based in southern European country as €1b auction clears at lower-than-expected levels
16 May 2025
Only 21% of approved IPCEI projects reach FID as cost overruns and funding delays hamper progress, according to European Commission officials
