Under the memorandum of understanding (MoU), SK will oversee the production, sales and distribution of clean hydrogen, with Monolith’s knowledge, that will provide a significant boost to Korea’s hydrogen ecosystem.

Read more: SK Corporation invests in Monolith Materials

Rob Hanson, CEO of Monolith, said, “Monolith 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.”

Moohwan Kim, Executive Vice-President of SK Incorporated, said, “Climate change is requiring markets around the world to dramatically transform their energy systems and, in a broader sense, their value chain as a whole to reduce adverse impact on the environment.

“SK Incorporated plans to collaborate with Monolith to expand its technologies globally and support our goal of creating new models for clean energy.”