Modern Electron team
Instead of creating new infrastructure, Modern Electron wants to cut waste and emissions in existing heating systems

DEALS | Are offices on the cusp of affordable hydrogen?

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Karl Tomusk

A company piloting hydrogen production in buildings has raised $30m to decarbonise heating systems that have few renewable options.

Modern Electron is developing a gas-to-hydrogen converter that takes natural gas within homes or offices and reduces it to a mix of solid carbon and hydrogen. The hydrogen is then used for heat and energy in the building.

Instead of releasing carbon into the atmosphere, the converter collects it in a form that can potentially be re-used – as graphite – though it could end up in a landfill.

Although Modern Electron’s idea is not carbon-free, it aims to reduce waste in existing heating systems that still use natural gas, especially where renewable electrification is either inaccessible or still too expensive.

CEO Tony Pan has previously argued that this approach – what he calls “hybrid heating” – is a step towards decarbonisation in the same way as hybrid cars.

Alongside its hydrogen pilots, Modern Electron will use proceeds from the fundraise to roll out an existing product, which converts wasted heat in boilers into electricity.

Modern Electric plans to integrate this technology with “leading manufacturers of HVAC and energy systems”, it said.

The Series B fundraise was led by At One Ventures, with participation from new investors Extantia, Starlight Ventures, Valo Ventures and strategic investors Irongrey and Wieland Group.


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