Lisa Stiffler of GeekWire reports that Modern Hydrogen (previously Modern Electron) has raised $32.8 million.
- Modern Hydrogen has developed a method to strip off the carbon from natural gas or biogas to make hydrogen.
- In addition to clean hydrogen, this method also produces carbon black which can be used to create asphalt and rubber.
- The company is also developing that are smaller and modular and designed for decentralized locations to reduce transportation costs and improve efficiency for hydrogen gas.
- Modern Hydrogen’s latest funding round was led by NextEra Energy, one of the world’s largest utility companies.
“The startup has pilot projects planned with NW Natural — Oregon’s largest natural gas utility — and another utility that Pan couldn’t name, but his hints suggest it’s NextEra Energy. Modern Hydrogen plans to ship its demo reactors, which will be the size of half a shipping container, to the utilities by the third-quarter of this year.”
Read the full article here.
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