Summary:
Modern Hydrogen is creating a cleaner hydrogen while producing a useful byproduct: solid carbon for asphalt.
Their innovative system separates natural gas into clean hydrogen and solid carbon, eliminating carbon emissions.
The use of carbon in asphalt makes it stronger, cheaper, and greener, tapping into a $100 billion market.
Decarbonization strategies focus on least cost, least risk methods for industrial clients.
With $100 million in funding, Modern Hydrogen aims to expand its reach globally, including plans for Japan.
Cleaner Hydrogen Production
Companies like Monolith and Modern Hydrogen are pioneering technologies to produce clean hydrogen while generating a useful byproduct: solid carbon. This solid carbon can be utilized to manufacture petroleum-free asphalt materials.
The Process Behind Clean Hydrogen
According to Tony Pan, CEO of Modern Hydrogen, their system efficiently separates natural gas into clean hydrogen and solid carbon. While natural gas is a cleaner alternative to oil, it still emits harmful carbon dioxide upon combustion.
The Modern Hydrogen system, resembling a large box, is installed where natural gas is typically used. It separates the gas into its components, allowing clients to utilize emission-free hydrogen fuel, with some of it powering the system itself.
Innovative Asphalt Solutions
Modern Hydrogen also has a secondary business model that involves selling leftover carbon to asphalt manufacturers. The use of this carbon instead of traditional petroleum makes asphalt stronger, cheaper, and greener. The asphalt industry is a $100 billion per year market eager to adopt sustainable practices.
Economic Viability of Decarbonization
Chris Kroeker, business development segment manager at NW Natural, highlights the economic aspect of decarbonization, stating that companies are constantly seeking the least cost, least risk methods. Modern Hydrogen’s solution is considered a medium to low expense option for industrial clients looking to reduce their carbon footprint.
Funding and Expansion
Modern Hydrogen has garnered significant backing from investors, raising $100 million to date. Currently, their systems are operational in the U.S. and Canada, with asphalt already being used to fill potholes in six states and Canada. Plans are underway to expand into Japan and other global markets.
Testing in Diverse Climates
The company’s technology has primarily been tested in milder climates. However, a new collaboration with National Grid on Long Island, New York, represents their first trial in a colder climate. Success in this trial could broaden their client base significantly, as New York alone produces nearly 19 million tons of asphalt annually.
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