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Lincoln company to develop South Korean Project
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Lincoln company to develop South Korean Project

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monolith plant

Monolith, which started production at its carbon black plant near Hallam last year, said it has formed a joint venture to develop a similar project in South Korea.

Monolith on Wednesday announced plans to develop a project in South Korea that's similar to the one it built near Hallam.

The Lincoln-based company said it is partnering with SK Inc. in a joint venture to produce carbon black and clean hydrogen in the Asian country.

SK Inc., which led a round of investment in Monolith in June, will use Monolith technology to produce those products and will oversee all production, sales and distribution in the Korean market.

Monolith opened its local carbon black plant last year. The powdery substance is used in tires, inks, plastics and other products. The company also plans to build a second larger carbon black plant by 2024 and will use the hydrogen that's created in the manufacturing process to produce anhydrous ammonia.

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Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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