Modern Hydrogen is a technology company.
Modern Hydrogen has raised $63.0M across 2 funding rounds.
Modern Hydrogen has raised $63.0M in total across 2 funding rounds.
Modern Hydrogen is a cleantech company that produces clean hydrogen and solid carbon onsite by pyrolyzing natural gas, enabling decarbonization without new pipelines, water, or renewable power.[1][2][5] It serves gas utilities, industrial heat users, fleet operators, power plants, municipalities, and infrastructure developers, solving the challenge of high-emission heat and hydrogen production by converting methane into low-CO2 hydrogen for immediate use and sequestering solid carbon in roads and materials.[2][3] The company has raised over $100M from investors like Bill Gates, NextEra Energy, and National Grid, achieved North America's first turquoise hydrogen delivery to a pipeline, and operates in multiple U.S. states and Canada, with growing momentum from modular MH500 units and partnerships.[1][3]
Founded in 2015 near Seattle as Modern Electron, the company pivoted in 2023 to focus exclusively on hydrogen, rebranding as Modern Hydrogen after raising $32.8M; co-founder and CTO Max Mankin, with 15 years in energy systems and materials, leads a team of 45 scientists and engineers.[1][3][4] The idea emerged from an incubator where Mankin and his co-founder tackled hard-to-decarbonize sectors like heating, motivated by making energy cheaper and cleaner—personal for Mankin, born in Taiwan in the 1980s, who saw energy access as key to quality of life amid family hardships.[6] Early traction included breakthrough pyrolysis tech, Bill Gates' 2024 facility visit praising its carbon-trapping potential, and first-of-its-kind hydrogen deliveries.[1][3]
Modern Hydrogen rides the turquoise hydrogen trend—pyrolysis of methane for clean H2 and solid carbon—accelerating amid surging demand for low-cost decarbonization as renewable costs fall and net-zero goals intensify.[1][2] Timing aligns with U.S. energy security pushes, utilizing abundant natural gas infrastructure amid pipeline constraints and biogas integration, while market forces like falling hydrogen costs and carbon regulations favor immediate, scalable solutions over electrolysis.[2][6] It influences the ecosystem by enabling utilities and industries to decarbonize heat (20-30% of emissions) without waiting for renewables, partnering with asphalt firms for durable roads, and bridging fossil fuels to clean energy via useful carbon byproducts.[1][5]
Modern Hydrogen is poised to scale MH500 deployments globally, targeting industrial heat, fleets, and infrastructure amid rising hydrogen demand projected to rocket with cost reductions.[1][2] Trends like U.S. methane valorization, stricter emissions rules, and carbon-negative materials will propel growth, potentially expanding to biogas and exports as sequestration networks grow. Its influence may evolve from pioneer to infrastructure staple, reinforcing energy security while turning waste carbon into assets—echoing its mission to make energy cheaper, cleaner, and pivotal for net-zero scale.[3][6]
Modern Hydrogen has raised $63.0M in total across 2 funding rounds.
Modern Hydrogen's investors include Costanoa Ventures, National Grid Partners, The Engine, 8090 Industries, At One Ventures, Bioluminescence Ventures, Boost VC, David Schenkein, Morgenthaler Ventures, Saga, SV Health Investors.
Modern Hydrogen has raised $63.0M across 2 funding rounds. Most recently, it raised $33.0M Series B in March 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2023 | $33.0M Series B | Costanoa Ventures, National Grid Partners, The Engine | |
| Dec 1, 2021 | $30.0M Series B | 8090 Industries, At One Ventures, Bioluminescence Ventures, Boost VC, David Schenkein, Morgenthaler Ventures, Saga, SV Health Investors |