ReMo: optimising chemical production processes
ReMo Energy has just closed a successful $5 million seed funding round led by AiiM Partners, with participation from Breakthrough Energy Ventures and others. ReMo uses “predictive modeling” to integrate renewable energy inputs into production plants, creating standardised, lower capex designs that can be scaled as required. Renewable ammonia is ReMo’s first target for decarbonising industrial chemical production, with a focus on the US Midwest. In May ReMo unveiled a renewable ammonia production technology package called ReMonia™.
Monolith Materials announced a successful funding round of $300 million, co-led by TPG Rise Climate and Decarbonization Partners (a partnership between BlackRock and Temasek). The capital will assist further development of Monolith’s methane pyrolysis technology processes, expansion of existing production facilities in Nebraska, and also help clear a “deep backlog” of to-be-developed hydrogen & ammonia projects.
Monolith’s expansion plans for its Olive Creek, Nebraska facility were already boosted earlier this year by two announcements. Goodyear Tire & Rubber announced it would cooperate with Monolith to investigate the use of carbon black byproduct from Olive Creek in its manufacturing processes. In addition, the US DoE granted a $1 billion loan to Monolith for the expansion project.