GOODYEAR ANNOUNCES INDUSTRY'S FIRST TIRE TO USE CARBON BLACK PRODUCED VIA METHANE PYROLYSIS

Rhea-AI Summary

Goodyear announces a new tread formulation for its ElectricDrive GT tire, incorporating Monolith carbon black produced by methane pyrolysis. This marks a step towards zero-emissions carbon black in tire manufacturing. The tire is the first in the industry to use this type of carbon black. Goodyear plans to explore expanding its use across other product lines.

Positive

• Goodyear's collaboration with Monolith to use sustainable materials in tire manufacturing could enhance the company's reputation and attract environmentally conscious consumers. The use of carbon black produced by methane pyrolysis reduces reliance on fossil fuels and contributes to emissions reductions. The new tread formulation, with enhanced all-season traction, may improve the performance and safety of the ElectricDrive GT tire. The tire's availability for purchase through Goodyear.com provides a direct sales channel for the company.

Negative

• None.

The tire tread in a select size of the Goodyear ElectricDrive™ GT will include Monolith carbon black.

AKRON, Ohio, May 10, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced a new tread formulation for its ultra-high performance, all-season ElectricDrive™ GT tire, tuned for electric vehicles, in size 235/40R19. The specialized tread compound that provides enhanced all-season traction will include Monolith carbon black produced by methane pyrolysis. In doing so, Monolith and Goodyear are taking the next step on a journey toward zero-emissions carbon black in tire manufacturing.

This tire, which will be manufactured with this specific carbon black, is the first tire for sale in the industry to have this type of carbon black produced by Monolith.

Carbon black is a key ingredient in tires, providing compounds in the tires with strength, improved tear resistance, and increased abrasion resistance. While traditional carbon black commonly comes from the combustion of fossil fuel oils, Monolith's plasma-based process takes advantage of renewable electricity to complete methane pyrolysis and results in the output of only carbon and hydrogen, with no combustion required. Methane pyrolysis allows for the splitting of the methane molecule into the constituent elements—carbon and hydrogen.

"At Goodyear, we are continually looking at and working with our supply base to understand and discover new innovations and technologies to use in our products," said Chris Helsel, senior vice president Global Operations, and Chief Technology Officer. "The use of carbon black produced by methane pyrolysis is an example of how we are collaborating with our suppliers, like Monolith, to utilize sustainable materials in our consumer products, without compromising on performance and safety."

"Working with innovative partners to incorporate sustainable ingredients is at the core of what we do, and Goodyear has been at the forefront of that mission," said Rob Hanson, cofounder and CEO, Monolith. "We're thrilled for the tire made with Monolith carbon black to launch and excited for the continued product research and development in this industry-leading partnership."

The Goodyear ElectricDrive GT delivers long-lasting tread wear and a quiet ride for EV drivers and passengers. The ElectricDrive GT features Goodyear's SoundComfort Technology^®, which acts as a built-in sound barrier that helps reduce road noise. The ElectricDrive GT 235/40R19 is available through Goodyear.com and is an ideal fit for vehicles such as the Tesla Model 3.

Goodyear plans to explore expanding the use of Monolith carbon black produced via methane pyrolysis across additional product lines in the coming years. Goodyear also plans to continue to investigate with Monolith the potential use of new technologies, such as the use of carbon black produced from methane derived from waste sources.

Goodyear entered into a collaboration agreement with Monolith, a world leader in clean hydrogen and materials production, in December 2021 for the development and potential use of carbon black produced from methane and/or biomethane for its tires.

Goodyear defines a sustainable material as a bio-based/renewable, recycled material or one that may be produced using or contributing to other sustainable practices for resource conservation and/or emissions reductions including mass-balance materials.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 74,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

About Monolith

Monolith is a next–generation hydrogen and materials company that has developed a technology that can use 100% carbon-free energy as part of a proprietary process to convert conventional, renewable or responsibly-sourced natural gas to carbon black and hydrogen in a more environmentally sound manner. Monolith is backed by Azimuth Capital Management, Cornell Capital LLC, Decarbonization Partners, Imperative Ventures, Mitsubishi Heavy Industries America, NextEra Energy Resources Inc., SK Inc., TPG Rise Climate and Warburg Pincus. For more information on Monolith, visit www.monolith-corp.com.

 

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SOURCE The Goodyear Tire & Rubber Company

FAQ

What is the new tread formulation announced by Goodyear?

Goodyear has announced a new tread formulation for its ElectricDrive GT tire, incorporating Monolith carbon black produced by methane pyrolysis.

What is the significance of using Monolith carbon black in tire manufacturing?

The use of Monolith carbon black marks a step towards zero-emissions carbon black in tire manufacturing. It reduces reliance on fossil fuels and contributes to emissions reductions.

What is the availability of the ElectricDrive GT tire?

The ElectricDrive GT tire in size 235/40R19 is available for purchase through Goodyear.com.

What are the potential future plans of Goodyear regarding Monolith carbon black?

Goodyear plans to explore expanding the use of Monolith carbon black across additional product lines in the coming years. They also plan to investigate the potential use of carbon black produced from methane derived from waste sources.