- January 5, 2022
- Posted by: Stratford Team
- Category: Economy
The US Department of Energy has conditionally awarded turquoise hydrogen company Monolith a $1.04 billion loan to expand its hydrogen and carbon black production operations in Hallam, Nebraska.
The loan was issued from the department’s Title XVII Innovation Energy Loan Guarantee Programme. Monolith will use the loan to accelerate the commercial deployment of its pyrolysis technology, which uses renewable electricity to convert traditional or renewable natural gas into hydrogen, some of which will be converted to ammonia for fertiliser, and carbon black, which is used in a range of applications ranging from tyres, building materials and as a soil enhancer.
The 20-year loan will help fund the company’s expansion of its Olive Creek plant to become the largest carbon black production facility in the US with production of 194,000 tonnes of carbon black per year.
The expansion project is expected to create 1000 jobs and, once completed, the expanded…
