Most current round of funding will support Monolith’s industrial development, as it continues to advance towards broadening operations
LINCOLN, Neb., Sept. 26, 2024/ PRNewswire/– Monolith Products, Inc. (Monolith), an international leader in tidy hydrogen and carbon black, today revealed a closed financing round from existing financiers, consisting of Azimuth V Energy Advancement Fund and Azimuth Capital Management’s Advancement Business Platform, Cornell Capital, Decarbonization Partners, TPG Increase Environment, and Warburg Pincus. This is the most recent round following Monolith’s capital raise in July 2022 and conditional approval for a loan from the Department of Energy Loan Programs Workplace to broaden its production centers in Nebraska
” It is an interesting time for Monolith, and we are exceptionally happy with the work we are doing to scale business supported by first-rate financiers,” stated Rob Hanson, co-founder and CEO of Monolith.
Monolith utilizes tidy energy to power a commercial-scale exclusive plasma pyrolysis procedure that amazes carbon black and hydrogen production. The carbon black produced from Monolith’s low-emission procedure is a vital input for tires, plastics, inks, paints and other usages. Today, the carbon black that Monolith produces at its existing center (OC1) enters into tires throughout The United States And Canada The tidy hydrogen to be produced at Monolith’s growth center (OC2) will be transformed to ammonia and is anticipated to be provided as fertilizer to farmers in America’s Corn Belt to assist feed and sustain the world.
” This financing continues our decade-long collaboration with Monolith as the business constructs a high energy, low emissions future,” stated Roy Ben-Dor, Handling Director and Head of Energy Shift & & Sustainability, Warburg Pincus. “The business’s exclusive technique to producing sustainable hydrogen, carbon black, and ammonia is important to decarbonizing the energy and products sectors.”
” The Monolith group continues to move at rate in dealing with emissions from a few of the most extensively utilized, yet most tough to decarbonize products. Given that our preliminary financial investment in 2022, we have actually seen strong need from leading brand names in Monolith’s end markets and we anticipate continuing that momentum with our most current financial investment,” stated Jonathan Garfinkel, a Handling Partner of TPG Increase Environment.
” Rob and the group at Monolith continue to effectively browse the roadway towards introducing their growth, which will substantially scale their operations and put more tidy tires on the roadway,” stated Dr. Meghan Sharp, Worldwide Head of Decarbonization Partners. “We anticipate continuing to support the business.”
About Monolith
Monolith is a next-generation cleantech business that utilizes tidy energy to power a commercial-scale exclusive plasma pyrolysis procedure that amazes the production of carbon black and hydrogen, which offers ecological benefits over standard production procedures. Monolith is backed by Azimuth Capital Management, Cornell Capital, Decarbonization Partners, Elda River Capital Management, LLC, Imperative Ventures, Mitsubishi Heavy Industries America, NextEra Energy Resources, LLC, Perry Creek Capital LP, SK Inc., TPG Increase Environment and Warburg Pincus To find out more on Monolith, go to www.monolith-corp.com
About Warburg Pincus
Warburg Pincus LLC is a leading worldwide development financier. The company has more than $ 83 billion in possessions under management. The company’s active portfolio of more than 225 business is extremely diversified by phase, sector, and location. Warburg Pincus is a knowledgeable partner to management groups looking for to construct resilient business with sustainable worth. Given that its starting in 1966, Warburg Pincus has actually invested more than $ 117 billion in over 1,000 business worldwide throughout its personal equity, realty, and capital options techniques. The company is headquartered in New York City with workplaces in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore To find out more please visit www.warburgpincus.com.
About Azimuth Capital Management
Established in 2000, Azimuth is an energy shift personal equity supervisor concentrated on late phase development equity and advancement chances in The United States And Canada and Europe Azimuth is a global leader in energy operating and job advancement experience, which makes it possible for separated outcomes throughout 5 funds in addition to internal advancement business origination. Azimuth V targets low carbon fuels, battery products, and baseload tidy power and storage with a concentrate on effective carbon mitigation. To find out more, please go to www.navigatingenergy.com.
About Cornell Capital
Cornell Capital is a U.S.-based personal financial investment company with ~$ 6 billion of AUM and workplaces in New York City and Hong Kong Leveraging years of worldwide financial investment experience, the company takes a disciplined technique to investing throughout the customer, monetary services, and industrials/business services sectors, typically in business that can take advantage of the company’s Asia existence and cross-border knowledge. Established in 2013 by Senior Partner Henry Cornell, the previous Vice Chairman of Goldman Sachs’ Merchant Banking Department, the company is led by an extremely experienced group with substantial shared financial investment experience. To find out more, visit www.cornellcapllc.com.
About TPG Increase Environment
TPG Increase Environment is the devoted environment investing technique of TPG’s $ 19 billion worldwide effect investing platform. TPG Increase Environment pursues climate-related financial investments that take advantage of the varied abilities of TPG’s investing specialists, the tactical relationships established throughout TPG’s existing portfolio of climate-focused business, and an international network of executives and consultants. The fund takes a broad-based sector technique to financial investment types, from development equity to value-added facilities, and concentrates on environment options in the following thematic locations: tidy electrons, tidy particles and products, and unfavorable emissions. Jim Coulter, TPG Establishing Partner and Executive Chairman, functions as a Handling Partner of TPG Increase Environment. Previous U.S. Treasury Secretary Hank Paulson functions as TPG Increase Environment’s Executive Chairman. To find out more, please go to www.therisefund.com/tpgriseclimate.
About Decarbonization Partners
Decarbonization Partners is a joint endeavor in between Temasek and BlackRock concentrated on late-stage equity capital and early development personal equity investing in next-generation business that offer options and innovations to assist speed up worldwide efforts to attain a net absolutely no worldwide economy by 2050. Decarbonization Partners combines Temasek and BlackRock’s complementary platforms and knowledge in sourcing and underwriting personal financial investments, portfolio and threat management, and sustainable innovation and analytics. Decarbonization Partners purchases a wide variety of business that have actually shown innovation and require capital to scale. The collaboration brought in $ 1.40 bn in capital from a varied set of over 30 institutional financiers throughout The United States And Canada, Europe and Asia Pacific.
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SOURCE Monolith
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