Technology upstart Modern [Hydrogen] has cracked the code for turning natural gas into clean hydrogen cheaply, with negative production and delivery costs expected for some parts of the US, according to the company’s CEO [Tony Pan].
Though still a nascent technology, the use of methane pyrolysis for carbon-free hydrogen production has been endorsed by the DOE's Loan Programs Office. In December 2021, the office guaranteed a $1.04 billion loan that Monolith Materials Inc. will use to expand its turquoise hydrogen facility in Hallam, Neb. Modern [Hydrogen], based in the Seattle area, produces equipment that can be installed at the end of the natural gas distribution network, separating out the carbon and delivering hydrogen to the customer.