This startup specializes in renewable hydrogen production through water electrolysis, providing a zero-carbon alternative for industrial, transportation, and power sector clients. By developing hydrogen projects, the company enables facilities to utilize emission-free fuel, reducing their carbon footprint and operational costs.
Funding
$17.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many industrial, transportation, and power sector facilities rely on carbon-intensive fuels, contributing significantly to greenhouse gas emissions and hindering decarbonization efforts. Traditional hydrogen production methods, primarily steam methane reforming (SMR), further exacerbate the problem by releasing substantial amounts of CO2. This dependence on fossil fuels leads to price volatility and environmental concerns.
Solution
NovoHydrogen develops and operates green hydrogen production facilities, providing a zero-emission alternative to conventional fuels. The company focuses on both on-site and off-site hydrogen generation using water electrolysis powered by renewable energy sources like solar and wind. For on-site solutions, NovoHydrogen installs electrolyzers at customer facilities, enabling direct hydrogen production. For off-site solutions, the company leverages large-scale hydrogen generation and delivers the hydrogen via trucks or pipelines. This approach allows customers to reduce their carbon footprint, mitigate fuel price volatility, and achieve long-term cost predictability through fixed-price supply contracts.
Target Audience
NovoHydrogen serves large-scale industrial facilities seeking to replace fossil-based hydrogen, transportation fleets transitioning to hydrogen fuel, and power sector companies aiming to produce emission-free electricity.
Features
- On-site hydrogen production via PEM electrolyzers powered by renewable energy sources
- Off-site hydrogen production with delivery via trucks or pipelines
- Project development, including origination, financing, construction, and operation
- Long-term hydrogen purchase agreements (HPAs)
- Integration of hydrogen with fuel cells for 100% zero-carbon power generation
- Expertise in navigating Low Carbon Fuel Standard (LCFS) programs
- Project design and meteorological (MET) tower installation for wind characteristic measurement