GreenFront Energy Partners Advises NovoHydrogen on Equity Capital Raise

Investment Accelerates U.S. Green Hydrogen Development

October 17, 2023

GreenFront Energy Partners (“GreenFront”) is pleased to announce the successful closing of Modern Energy’s equity commitment to NovoHydrogen (“Novo”), the premiere North American green hydrogen developer. Founded in 2021 by Matt McMonagle, Novo develops onsite and near-site green hydrogen projects for its customers across a variety of sectors. As a member of the Pacific Northwest Hydrogen Hub, NovoHydrogen was also recently selected to begin award negotiations for the development of this site.

The capital raised through this transaction will enable Novo to continue strengthening its team and bring its development portfolio of green hydrogen projects to final investment decision and into construction. “We are grateful to the first-class teams at GreenFront Energy Partners and Vinson & Elkins, who advised us during this process, and we look forward to continuing to bring cost-effective, resilient, and green hydrogen to our North American customers.” said Matt McMonagle, CEO of NovoHydrogen.

GreenFront served as exclusive financial advisor to NovoHydrogen.

Link to Transaction Release.