GreenFront Energy Partners Advises Nu:ionic Technologies on Corporate Equity Capital Raise

The Strategic Equity Investment will Support the Development and Commercialization of Nu:ionic’s Low Carbon Hydrogen Production Technology

November 3, 2022

GreenFront Energy Partners (“GreenFront”) is pleased to announce the successful closing of a corporate equity capital investment between Nu:ionic Technologies (“Nu:ionic”) and an undisclosed strategic partner. The initial funding will support late stage development and commercialization of Nu:ionic’s proprietary Microwave Catalytic Reforming (“MCR”) technology, enabling low-cost on-site clean hydrogen production. Through this transaction, Nu:ionic has found a strategic partner that can leverage its extensive background and expertise in energy logistics and transportation to facilitate the accelerated adoption of low carbon technologies across multiple end markets, including LDC pipeline blending, industrial sales, and low-carbon transportation.

By using electricity to power reformation, Nu:ionic’s process eliminates the need for fuel combustion, reducing the amount of feedstock required to produce hydrogen and significantly reducing emissions. Nu:ionic’s technology is more efficient and compact than conventional reformers and uses a fraction of the electricity and water required for electrolysis.

Founded in 2016 and headquartered in New Brunswick, Canada, the company was formed to commercialize novel applications of industrial microwave technology to lower GHG emissions. Its co-founders, Dr. Jan Boshoff and Dr. Jim Tranquilla, bring proven experience in de-risking and commercializing large scale gas conversion processes and industrial microwave processing plants.

GreenFront served as exclusive financial advisor to Nu:ionic Technologies.