Monolith Materials: new deal with Goodyear, $1 billion loan from DoE
By on January 12, 2022
Carbon black for tire production
Monolith and Goodyear Tire & Rubber (the only US-headquartered tire manufacturer) will cooperate on the potential use of carbon black byproduct from its Olive Creek facility in Hallam, Nebraska. Monolith is scheduled to begin expansion works this year which – once completed in 2025 – will see the facility produce 194,000 tonnes of carbon black annually, alongside its major product: 275,000 tonnes of clean ammonia. Ammonia produced via methane pyrolysis is a well-discussed topic here at Ammonia Energy.
The use of Monolith’s carbon black – a solid byproduct produced during pyrolysis of methane molecules to yield hydrogen – represents an opportunity to displace carbon black manufactured via traditional fossil fuel-based, emissions-intensive processes. At the announcement, Monolith CEO Rob Hanson said Goodyear’s choice had multiple benefits: not only does it help them meet their internal sustainability goals for emissions reductions, but also meets growing consumer demand for environmentally-responsible products.
$1 billion loan from Department of Energy approved
And a $1.04 billion, Title XVII loan from the US government has secured Monolith’s expansion plans for Olive Creek, which will see it become the largest producer of carbon black in the US by 2025. The announcement was welcomed by key stakeholders including tire manufacturers Goodyear and Michelin, investor NextEra Energy Resources and Kiewet, the firm contracted to construct the expanded Olive Creek facility.
The Title XVII Innovative Energy Loan Guarantee Program’s purpose is to recognize and support technology that reduces emissions and supports a clean energy future. Advanced, clean production technology like Monolith’s are the types of impactful projects that support not just sustainability, but economic growth and clean energy jobs for the American people.
Department of Energy Secretary Jennifer Granholm in Monolith’s official press release, 23 Dec 2021