# Modern Hydrogen

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modern-hydrogen

- Industry: Power & Utilities
- Headquarters: Bothell, US
- Website: www.modernhydrogen.com
- Total disclosed funding: $73M
- Latest round: Series B (Mar 14, 2023)
- Investors on record: 12

## About

Modern Hydrogen Inc., based in Bothell, Washington, specializes in developing advanced pyrolysis technology to convert American natural gas into hydrogen and solid carbon, providing sustainable energy and material solutions.Founded in 2015, Modern Hydrogen Inc. focuses on converting U.S. natural gas into hydrogen and solid carbon. The co-founders, Max Mankin and Tony Pan, have a history of innovation in energy solutions. The company has raised a total of USD 32.80 mn across multiple funding rounds, with the latest being a Series B, led by NextEra Energy Resources, LLC, on November 27, 2024. This funding has positioned the company with a current valuation of USD 155.91 mn.Modern Hydrogen specializes in advanced pyrolysis technology that facilitates the conversion of American natural gas into hydrogen and solid carbon, enhancing the value of U.S. methane. Their core offerings include high-performance hydrogen for onsite energy use and solid carbon used in asphalt products to improve road durability. Their solutions cater to industries requiring high-grade heat and energy, as well as infrastructure projects across North America and other regions with existing natural gas infrastructure.Modern Hydrogen's revenue model is structured around B2B transactions, focusing on partnerships with industrial and commercial clients seeking energy solutions and materials for infrastructure projects. The company engages in direct sales to customers needing hydrogen for energy operations and solid carbon for asphalt production, typically involving custom agreements tailored to each customer's operational requirements. Specific pricing plans are not disclosed, but the company aims to provide cost-effective solutions for energy security and infrastructure resilience.In November 2024, Modern Hydrogen Inc. raised USD 25 mn in venture debt funding, which will be utilized to enhance its gas infrastructure and expand into new markets. The company is actively developing new products to meet the increasing demand for sustainable energy solutions and is exploring opportunities in various geographic regions to broaden its impact.

## Funding rounds

- Series B, Mar 14, 2023, $33M — NextEra Energy Resources, LLC, Starlight Ventures, Valo Ventures, National Grid Partners, Miura, Metaplanet Holdings, IRONGREY, Gates Frontier
- Series B, Dec 3, 2021, $30M — Starlight Ventures, Valo Ventures, Metaplanet Holdings, At One Ventures, IRONGREY, Extantia, Wieland Group
- Seed, Jan 1, 2015, $10M — Intellectual Ventures

## Investors

- Intellectual Ventures (https://capitalatlas.ai/funds/intellectual-ventures) — Seed
- Starlight Ventures (https://capitalatlas.ai/funds/starlight-ventures) — Series B
- Valo Ventures (https://capitalatlas.ai/funds/valo-ventures) — Series B
- Metaplanet Holdings (https://capitalatlas.ai/funds/metaplanet-holdings) — Series B
- At One Ventures (https://capitalatlas.ai/funds/at-one-ventures) — Series B
- IRONGREY (https://capitalatlas.ai/funds/irongrey) — Series B
- Extantia (https://capitalatlas.ai/funds/extantia) — Series B
- Wieland Group — Series B
- NextEra Energy Resources, LLC — Series B
- National Grid Partners (https://capitalatlas.ai/funds/national-grid-partners) — Series B
- Miura — Series B
- Gates Frontier — Series B