Companies like Monolith and Seattle-based startup Modern Hydrogen are using the new technology to produce cleaner hydrogen, while also producing a useful byproduct—solid carbon—that can be used to create petroleum-free asphalt materials.
“Modern Hydrogen produces clean hydrogen without the need for renewable energy. We can do this because we break down natural gas into clean hydrogen and solid carbon,” said Modern Hydrogen CEO Tony Pan.
Natural gas is a cleaner fuel than oil, but it still emits harmful carbon dioxide when burned.
Customers place modern hydrogen systems, which look like a big box, in places where they would normally use natural gas. The system first separates the gas into solid carbon and clean hydrogen. Customers then use this emission-free hydrogen fuel. Part of it also powers the system.
Modern Hydrogen also has a second business, selling surplus carbon to asphalt manufacturers. Using carbon instead of the usual petroleum would make asphalt stronger, cheaper and more environmentally friendly. Asphalt is traditionally a mixture of gravel and petroleum.
“This $100 billion-a-year market wants to buy dissolved carbon and put it into asphalt, which helps unlock the overall economic benefits of decarbonization,” Pan said.
For modern hydrogen’s industrial customers, it’s a cheaper way to decarbonize under pressure from investors and regulators.
“Decarbonization isn’t free, so we’re always looking for the lowest cost, least risky approach. The technology could be mid- to low-cost, and that’s what we’re trying to solve with this technology,” said Chris Kroeker, business development manager. said northwest natureformerly Northwest Natural Gas Company.
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.
Modern Hydrogen now has systems in the United States and Canada. Its asphalt is filling potholes in six states as well as Canada. Pan said his next plan is to enter Japan and plan to go global.
Most of the company’s testing has been in milder climates, but Modern Hydrogen is currently working with National Grid’s natural gas facilities in Long Island, New York. This is the first trial in a cold climate. If it continues, this will open the company up to a wider range of customers. New York produces nearly 19 million tons of asphalt annually.
CNBC producer Lisa Rizzolo contributed to this article.
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