Modern Hydrogen Raises $25M to Fuel Clean Energy Innovations

Seattle-area startup Modern Hydrogen has raised $25 million in funding as it aims to revolutionize clean energy production through innovative technology. The investment, spotted through a regulatory filing, saw participation from both existing and new investors. CEO Tony Pan stated that the company will unveil strategic partnerships after the New Year to expand into new markets while enhancing existing gas infrastructure and accelerating carbon capture and utilization processes. Modern Hydrogen, originally known as Modern Electron, was founded within the Intellectual Ventures lab, curated by Nathan Myhrvold with support from Bill Gates, who also serves as an investor. The company focuses on developing a reactor for cracking natural gas into hydrogen fuel and solid carbon, allowing for environmentally friendly energy production and industrial applications such as steel manufacturing and fuel cell usage. The startup began its journey in 2015, initially working on devices that converted wasted heat from home appliances into electricity. Today, it employs about 80 individuals and has managed to secure over $100 million in funding, including a $32.8 million investment round earlier this year. Modern Hydrogen is listed as one of the top startups in the Pacific Northwest.