Molten Industries, a visionary startup rooted in a Palo Alto garage, has secured a substantial $25 million Series A funding round to propel its mission of decarbonizing heavy industries through innovative methane pyrolysis technology. Founded by Dr. Kevin Bush and Dr. Caleb Boyd during the pandemic, Molten has rapidly evolved from experimental setups in a rented garage to pioneering scalable solutions for clean hydrogen and graphite production.
The Series A financing, led by Breakthrough Energy Ventures (BEV), underscores Molten’s strategic approach to transforming natural gas into high-purity graphite and clean hydrogen using renewable electricity. This breakthrough not only addresses the critical need for sustainable battery materials but also offers a compelling alternative to conventional, emissions-intensive hydrogen production methods like steam methane reforming.
“We started with a simple goal: to develop a technology that could economically produce clean hydrogen and graphite, essential materials for the future of batteries and decarbonization,” explained Kevin Bush, CEO and co-founder of Molten Industries. “Our journey from a makeshift garage reactor to securing significant funding highlights the growing demand and investor confidence in our approach.”
Molten’s innovative process, which operates at temperatures exceeding 1,000 degrees Celsius, facilitates the thermal decomposition of methane into solid carbon and hydrogen. Unlike traditional methods prone to carbon buildup and high energy consumption, Molten’s reactors promise efficiency gains critical for scaling up hydrogen production sustainably.
“We’ve engineered reactors that prevent clogging, a common challenge in methane pyrolysis,” added Dr. Bush. “This advancement positions us uniquely to meet the rigorous demands of industrial-scale hydrogen production while minimizing environmental impact.”
Dr. Caleb Boyd, co-founder of Molten Industries, emphasized the significance of their technology in addressing global sustainability challenges: “Our mission is not just about innovation; it’s about making a tangible impact on reducing carbon emissions across industries. Molten’s approach to clean hydrogen and graphite production represents a paradigm shift towards more sustainable energy solutions.”
The funding will support Molten’s expansion into a state-of-the-art facility in Oakland, California, where the company plans to deploy modular commercial reactors capable of producing 5,000 tonnes of hydrogen and 15,000 tonnes of graphite annually. This initiative not only enhances domestic supply chain resilience but also contributes to lowering production costs, vital for supporting the global transition to electric vehicles and sustainable industrial practices.
“The integration of Molten’s technology into existing industrial processes represents a significant step forward in the race to achieve net-zero emissions,” commented a spokesperson from Breakthrough Energy Ventures. “Their innovative approach not only enhances efficiency but also aligns with global sustainability goals.”
Looking ahead, Molten Industries aims to leverage its technological edge to penetrate diverse markets, initially focusing on chemical and steel sectors hungry for cost-effective, low-carbon hydrogen. With partnerships and offtake agreements in sight, Molten is poised to play a pivotal role in reshaping the $100 billion hydrogen market landscape.
As Molten continues to scale its operations and recruit top engineering talent, the company remains committed to advancing sustainable energy solutions that promise both economic viability and environmental stewardship.
