TPG Capital and Decarbonization Partners led a $300m funding round in Monolith Materials.

Private equity firms TPG Capital and Decarbonization Partners led a $300m funding round in Monolith Materials, a next-generation green hydrogen and clean materials company, with participation from NextEra Energy Resources, SK, Mitsubishi Heavy Industries, Azimuth Capital Management, Cornell Capital and Warburg Pincus. “Our investment in Monolith reflects TPG Rise Climate’s pursuit of companies developing clean molecules and materials, providing sustainable, cost-competitive alternatives to carbon and hydrogen-based products. Following a decade of research and development, Monolith has developed expansive intellectual property, deployed the methane pyrolysis process in innovative ways, and established itself as a unique solution for an industry that is otherwise incredibly emissions intensive. We look forward to partnering with Monolith to further develop and scale its technology," Jonathan Garfinkel, TPG Partner.