US-based next-generation chemical and hydrogen company Monolith announced Thursday plans to replicate its business in South Korea through a joint venture with SK Inc, Kallanish reports.

The companies signed a memorandum of understanding to pursue a JV for producing clean hydrogen and carbon black products in the Asian country. Monolith will share its production and technology expertise, while SK Inc will oversee the production, sales and distribution of the products.

They didn’t disclose details on planned capacity or timeframe.

Monolith is the largest producer of clean hydrogen, also known as turquoise hydrogen, using methane pyrolysis. Its Nebraska-based commercial facility uses renewable electricity to break down natural gas into pure hydrogen and carbon – with no release of CO2. If bio-methane is used, the process becomes carbon negative, the company claims.

The by-product of Monolith’s clean hydrogen is a solid carbon material called carbon black, a critical raw material in the automotive and industrial sectors.

Monolith’s ceo Rob Hanson believes that “for a global challenge like decarbonisation, global collaboration is needed. We’re eager to continue our collaboration with SK Inc. to ensure cleanly-produced hydrogen and carbon products are available around the world.”

SK Inc, which invested in Monolith this summer, sees the collaboration as a mean to expand Monolith’s technology globally, while also supporting its own goal of “creating new models for clean energy.”

In the colour spectrum of hydrogen, blue hydrogen is the product derived from natural gas with the use of carbon capture and storage systems. Green hydrogen is produced using renewables-powered electrolysis, with no CO2 emissions.

Monolith claims to be the only producer of “cost-effective, commercially viable clean hydrogen and cleanly made carbon black today.” It plans to expand its project in Halam, Nebraska, to produce clean ammonia in the future.