NovoHydrogen develops onsite and near-site green hydrogen projects for customers across industrial, power, and transportation sectors. Founded in 2021 by Matt McMonagle, the company focuses on origination, project development, and financial structuring of green hydrogen infrastructure. NovoHydrogen has a strategic partnership with Ohmium, a PEM electrolyzer manufacturer. The company was selected as a member of the Pacific Northwest Hydrogen Hub and entered award negotiations for development of that site. Modern Energy's $20 million equity commitment will enable NovoHydrogen to strengthen its team and advance its development portfolio to final investment decision and into construction. Advisors GreenFront Energy Partners and Vinson & Elkins advised the company during the fundraising process. NovoHydrogen develops renewable hydrogen projects, focusing on origination, project development, and financial structuring. The company aims to accelerate the energy transition with a focus on tough-to-decarbonize industrial, transportation, and power sectors. It is led by CEO Matt McMonagle and is based in Golden, CO. NovoHydrogen recently closed a seed financing; the round size and backers were not disclosed in the article. The board includes clean energy leaders such as Jeremy Avenier, Peyton Boswell, Bruno Franco, and Joseph Malchow, who bring experience in electrolyzers, solar and storage asset management, Latin American energy finance, and energy-technology investing. No operating metrics or revenue figures were disclosed in the article.

Total raised

$20M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2023