Monolith Inc.
| Company type | Private |
|---|---|
| Industry | Chemicals, Clean technology |
| Founded | January 1, 2012 in Redwood City, California, United States |
| Founder | Robert Hanson, Pete Johnson |
| Headquarters | Lincoln , United States |
Area served | United States |
Key people | Bob Kerrey (board member) |
| Products | Carbon black, Hydrogen, Anhydrous ammonia |
Number of employees | 200 (2022) |
Monolith Inc.—previously known as Boxer Industries—is a United States-based manufacturer specializing in chemicals and materials, with its headquarters situated in Lincoln, Nebraska. Established in 2012 by entrepreneurs Robert Hanson and Pete Johnson in Redwood City, California, the company is distinguished for pioneering the commercial use of methane pyrolysis to decompose natural gas into carbon and hydrogen gases. The carbon output is transformed into carbon black, an essential industrial material, while the hydrogen is intended for conversion into anhydrous ammonia at a newly planned facility employing the Haber-Bosch process.
Overview
Monolith functions as a clean-tech enterprise dedicated to producing chemical commodities derived from natural gas with reduced environmental emissions. Its main office and innovation hub in Nebraska focus on developing advanced carbon black variants. As of early 2022, Monolith employed approximately 200 individuals. The company’s operational model centers on methane pyrolysis—a technique that thermally decomposes natural gas in an oxygen-free environment to separate carbon and hydrogen components. This method situates Monolith environmentally between green hydrogen (generated via electrolysis) and blue hydrogen (produced from fossil fuels with carbon capture).
SK Inc., a minority stakeholder, endorses this strategy, emphasizing its competitive edge in hydrogen production. Industry analyses credit Monolith as the first to commercially implement methane pyrolysis for manufacturing carbon black. Reports from The Wall Street Journal highlight that this process cuts emissions by nearly 95% compared to conventional techniques, underscoring Monolith’s influential role and strategic leadership within sustainable chemical production.
Founding and pilot plant
Originally founded as Boxer Industries in 2012 by Robert Hanson and Pete Johnson, the company aimed to establish a financially viable business with significant environmental benefits. In 2013, it secured $10 million in funding and gained approval to construct its pilot carbon black plant at the Port of Redwood City in 2014—the first such facility built in the United States over three decades. The site was chosen for its industrial zoning and proximity to Silicon Valley. The pilot operation generated approximately 190 metric tons of carbon black annually—a material widely used for rubber reinforcement and pigmentation—with a compact team supported by engineers working remotely.
Relocation
In 2015, Monolith revealed plans for a larger-scale plant near Hallam, Nebraska, named Olive Creek, designed to produce roughly 14,000 tons of carbon black each year. After assessing 18 potential sites across North America, construction began in 2016. Initially, Monolith intended to supply hydrogen produced onsite to convert Nebraska Public Power District’s Sheldon Power Station from coal-fired to hydrogen-fueled; however, this initiative was later discontinued due to financial and technical challenges. Instead, the hydrogen is now utilized for manufacturing anhydrous ammonia fertilizer. The company shifted its headquarters from California to Nebraska in 2018. In 2019, former U.S. senator and Nebraska governor Bob Kerrey joined Monolith’s board of directors.
By 2020, Monolith had accumulated $274 million in capital investment. That year saw the completion of the $100 million Olive Creek facility, although proposed expansions prompted scrutiny regarding groundwater consumption. Initial projections estimating water usage between 2.3 and 4.6 billion gallons annually were subsequently adjusted downward to a range of 450 to 800 million gallons per year. The anticipated $1 billion expansion aims to increase carbon black output twelvefold to approximately 180,000 tons annually and add capacity for producing 275,000 tons of anhydrous ammonia per year. Production operations at Olive Creek commenced in September 2020. Later that December, Mitsubishi Heavy Industries made an investment in Monolith’s Hallam-area hydrogen plant, reinforcing the company’s global reach and strategic alliances.
Expansion
In June 2021, the South Korean corporation SK Inc. along with NextEra Energy acquired minority shares in Monolith, bolstering its expansion plans. The following month, the Lower Platte South Natural Resources District authorized the drilling of three additional wells, allowing Monolith to extract up to 420 million gallons of water annually to support the Olive Creek project, which is slated for completion by 2026. This expansion will be powered entirely by renewable energy and is designed to cut greenhouse gas emissions by as much as one million metric tons each year compared to conventional carbon black and hydrogen manufacturing methods. The company is obligated to oversee water quality and consumption closely and has prepared contingency measures in case of drought.
In December 2021, Monolith entered into a supply contract with Goodyear Tire and Rubber Company to deliver carbon black utilized in approximately one-third of all tires, contributing to improved tire longevity. That same month, Monolith obtained a $1 billion loan guarantee from the United States Department of Energy, marking the first non-nuclear loan guarantee awarded under this initiative since 2016, aimed at financing the Olive Creek Plant expansion and highlighting its key role in clean energy innovation.
By July 2022, Monolith raised an extra $300 million from investors such as TPG's climate fund and Decarbonization Partners—a joint venture between BlackRock and Temasek—elevating its valuation beyond $1 billion and solidifying its status as a prominent startup within the clean hydrogen and carbon black sectors.