Monolith and Modern Hydrogen are using new technologies to create a cleaner hydrogen that's also creating a byproduct that can be used to make cleaner asphalt.
Monolith and Modern Hydrogen are using new technologies to create a cleaner hydrogen that's also creating a byproduct that can be used to make cleaner asphalt."There is this $100 billion per year market that wants to buy dissolved carbon and put it into asphalt, and that just helps the whole economics of this decarbonization play," said Tony Pan, CEO of Modern Hydrogen.
Modern Hydrogen has a second business selling the leftover carbon to asphalt makers. Using carbon, instead of the usual petroleum, makes the asphalt stronger, cheaper and greener. Asphalt is traditionally a mix of gravel and petroleum. It's one of the cheaper ways for Modern Hydrogen's industrial clients, pressured by investors and regulators, to decarbonize.
Modern Hydrogen is backed by Gates Frontier, At One Ventures, National Grid Partners, NextEra Energy, Miura Group and Irongrey. It has raised $100 million in funding to date.
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