Modern Energy Management

What Modern Energy Management does

Modern Energy Management (legal entity Modern Energy Group LLC) is a privately held, Durham, North Carolina-based diversified clean energy company that operates as a "platform of platforms," launching, scaling, and operating early-stage energy-transition developers across the Americas. Founded in 2016 by Mark Laabs and Ben Abram as a combination of 100% ownership in American Efficient and Faro Energy, the company has grown to roughly 100+ full-time employees with offices in Durham, Austin, São Paulo, and New York, and more than 1 GW of clean energy assets under management.

Its core operating model — internally branded "Capital + Culture + Capabilities" — combines phased equity capital, a back- and middle-office shared services layer (HR, IT, finance, marketing), and a long-horizon partnership orientation with founders. The company applies this model across four wholly-owned subsidiaries: Industrial Sun (utility-scale, net-metered solar for industrial offtakers in the Texas ERCOT market), NovoHydrogen (onsite and near-site green hydrogen project development for hard-to-decarbonize industrial, transportation, and power customers), American Efficient (energy-efficiency resource management for utilities and grid operators), and Faro Energy (distributed community solar in Brazil).

Revenue mechanics are heterogeneous and platform-specific rather than SaaS-like: Modern Energy captures equity returns on portfolio investments, supported by institutional co-investment — most notably a $100M EIG debt facility in 2020 and a $90M EIG co-investment in Industrial Sun in 2023 — while its subsidiaries generate revenue through power purchase agreements (e.g., Industrial Sun's 50 MWac Lyondellbasell PPA), project development fees, and sustainable bond issuance (Faro Energy). The company is a Certified B Corporation (score 91.5, since 2017) and discloses a portfolio spanning solar, hydrogen, energy efficiency, EV infrastructure, geothermal, carbon capture, hydro, and standalone storage.

Name

Modern Energy Management

Legal name

Modern Energy Group LLC

Website

https://modern.energy

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Modern Energy is a privately held, Durham-based diversified clean energy company that launches, scales, and operates early-stage energy transition platforms — Industrial Sun, NovoHydrogen, American Efficient, and Faro Energy — across solar, hydrogen, and energy efficiency in the Americas.

Ownership category

akta.pro rank

Product category

Clean Energy Asset Management

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900), Electric Services (4911)

akta.pro primary industry

Renewable Energy Infrastructure (FSAAAKAG)

akta.pro secondary industries

Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB), Real Assets — Energy & Power Infrastructure (Renewables, Conventional, Storage) (FSAHAIAD), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ), Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Clean energy asset management
• Renewable energy development
• Utility-scale solar projects
• Green hydrogen development
• Energy efficiency resources

Headquarters

HQ city

Durham

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Platform Investment Returns: Modern Energy invests in early-stage clean energy developers, taking equity positions and providing operational support. Returns are generated through portfolio company growth, institutional capital raises, and eventual exits.
2. Green Hydrogen Project Development: NovoHydrogen develops onsite and near-site green hydrogen projects for industrial, transportation, and power sector customers. Revenue generated through project development fees, equity ownership in projects, and long-term hydrogen supply agreements.
3. Net-Metered Industrial Solar: Industrial Sun develops large-scale solar projects for power sale to industrial clients through power purchase agreements (PPAs). Customers save on power bills without capital expenditure required.
4. Distributed Solar Development: Faro Energy identifies, develops, and finances distributed solar energy projects in Brazil, generating revenue through project development, sustainable bond issuances, and long-term energy supply contracts with commercial and industrial customers.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Modern Energy Management invests in and operates early-stage clean energy developers through a Capital + Culture + Capabilities model, taking equity positions and providing phased capital, back-office functions (HR, IT, finance, marketing), and institutional capital market access to scale energy transition platforms. Its portfolio includes Industrial Sun (net-metered utility-scale solar in Texas), NovoHydrogen (green hydrogen project development), Faro Energy (distributed solar in Brazil), and American Efficient (energy efficiency resources).

Product overview

Modern Energy is a diversified clean energy company that operates as a platform of platforms, providing capital, capabilities, and culture support to early-stage energy transition developers. The company's portfolio includes four main subsidiary platforms: Industrial Sun (utility-scale solar in Texas' ERCOT market), NovoHydrogen (green hydrogen development), American Efficient (energy efficiency resources management), and Faro Energy (distributed solar in Brazil). Modern Energy uses its Capital + Culture + Capabilities model to partner with emerging developers, offering startup capital, operational support, and world-class functional expertise to accelerate growth from inception to scale.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Sun Austin-based utility-scale solar developer that develops large-scale solar projects for power sale to industrial clients operating across Texas' ERCOT energy market, offering net-metered industrial solar PPAs that help customers save double-digit percentages on power bills without upfront capital expenditure.
• NovoHydrogen Golden, Colorado-based green hydrogen project developer that develops onsite and near-site green hydrogen projects for customers across hard-to-decarbonize sectors including ammonia, refining, glass, metal, cement, steel, aviation, heavy-duty transportation fleets, and the power sector.
• American Efficient Energy efficiency resource manager that partners with manufacturers, retailers, contractors, developers, distributors, electric utilities, and grid operators to develop and manage portfolios of energy efficiency resources.
• Faro Energy Headquartered in São Paulo, Brazil, Faro Energy develops, builds, owns, and operates community solar projects, serving some of the largest telecommunications and pharmaceutical companies in Brazil through long-term energy supply contracts and sustainable bond-financed developments.
• Capital + Culture + Capabilities Platform Offering Modern Energy's proprietary investment and operating platform that combines agile phased capital deployment with embedded back/middle office functional support (HR, IT, finance, marketing) and a long-term partnership culture to help early-stage clean energy developer platforms scale quickly from inception to institutional capital readiness.

Quantifiable outcome

• Industrial Sun helps ERCOT customers save double-digit percentages on power bills
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Nine partnerships are on record, tiered core and minor.

• OhmiumcoreTechnology or Integration · 17 October 2023NovoHydrogen formed a strategic partnership with Ohmium, a leading Proton Exchange Membrane (PEM) electrolyzer manufacturer, prior to closing Modern Energy's $20 million equity commitment. This partnership supports green hydrogen project development capabilities.
• GreenFront Energy PartnersminorImplementation/ SI/ Consulting Partner · 17 October 2023Advised NovoHydrogen during fundraising process for Modern Energy's $20 million equity commitment.
• Vinson & ElkinsminorImplementation/ SI/ Consulting Partner · 17 October 2023Legal advisor to NovoHydrogen during fundraising process.
• Nasdaq Sustainable Bond NetworkminorOthers · 8 December 2020Faro Energy became the first South American issuer to join Nasdaq's Sustainable Bond Network (NSBN), providing detailed information on sustainable bonds and data on each issuance's impact on sustainable development goals.
• TozziniFreireminorImplementation/ SI/ Consulting Partner · 1 January 2020Legal structuring partner for Faro Energy's sustainable bond issuance.
• Gaia SecminorOthers · 1 January 2020Financial advisor for Faro Energy's sustainable bond, helping create green finance solution with social impact.
• Gaia+ (Brazilian NGO)minorStrategic or Co-development Partner · 1 January 2020Partnership with Brazilian NGO Gaia+ for pilot project providing educational programming to 600 young students in Minas Gerais state, funded by sustainable bond earmarked proceeds.
• Bureau VeritasminorOthers · 1 January 2020Independently evaluated Faro Energy's sustainable bond projects under Climate Bond Initiative standards.
• Pacific Northwest Hydrogen HubcoreStrategic or Co-development PartnerNovoHydrogen was selected to begin award negotiations for development of the Pacific Northwest Hydrogen Hub, part of the U.S. Department of Energy's $8 billion clean hydrogen hub development program.

Scale indicators11 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Generate Capital: Generate Capital is a specialty financier that builds, owns, operates and finances sustainable infrastructure (solar, storage, EV charging, anaerobic digestion, district energy). Like Modern Energy, it provides both capital and operating capabilities to emerging clean-energy developers and manages a multi-billion-dollar portfolio across multiple technologies and geographies.
• Antin Infrastructure Partners: Antin Infrastructure Partners is a European infrastructure-focused private equity manager investing in renewables, energy transition and digital infrastructure. Comparable as a long-hold infrastructure investor that incubates and scales operating platforms, though its portfolio mix tilts more toward European mid-market assets.

Broad incumbents

• EIG Global Energy Partners: EIG is Modern Energy's largest institutional backer and a $20B+ AUM energy and infrastructure investor. It is directly comparable as a financial partner underwriting clean-energy platforms and co-investing in operating businesses (e.g., Industrial Sun), even though its fund-of-funds scale and broad sector mandate differ from Modern's developer-incubator model.
• Brookfield Asset Management (Renewable Power): Brookfield is one of the world's largest owners and operators of renewable power assets, with a long-running distributed-generation development business that several Modern Energy executives helped build. It is comparable as a global incumbent in renewable energy asset ownership, capital deployment, and developer incubation, but at materially greater scale.
• Macquarie Asset Management (Green Investment Group): Macquarie's Green Investment Group invests in and develops renewable energy and energy transition platforms across solar, onshore/offshore wind, storage and hydrogen. It is comparable as a global capital + capabilities investor in clean-energy developers, though it operates at a far larger AUM and broader geographic footprint.
• Energy Capital Partners: Energy Capital Partners is a private equity firm focused on power generation, renewables, and energy infrastructure. It invests in and builds clean-energy platforms, overlapping with Modern Energy's approach of providing capital and operational support to energy-transition businesses.
• 8minute Solar Energy (now part of EDP Renewables): 8minute was one of the largest US utility-scale solar developers prior to its acquisition by EDP Renewables, mirroring Modern Energy's thesis of building a focused solar developer platform. It is a comparable developer-incubator success story in the same US solar market Modern Energy's Industrial Sun operates in.

Regional players

• Clearway Energy: Clearway Energy is a US-listed yieldco that owns and operates utility-scale and distributed renewable energy assets, including substantial solar capacity in Texas (ERCOT). Comparable as a US clean-energy asset owner that benefits from the same net-metering and corporate PPA demand drivers that underwrite Industrial Sun's pipeline.
• NextEra Energy Partners: NextEra Energy Partners is a US-listed renewable energy yieldco that acquires and operates contracted clean-energy assets, primarily wind and solar. Comparable as a long-duration clean-energy asset owner/operator pursuing similar PPA-driven economics to those underlying Industrial Sun and Faro Energy projects.

Others

• Ohmium: Ohmium is a leading PEM electrolyzer manufacturer and a strategic technology partner of Modern Energy's NovoHydrogen platform. It is comparable as an adjacent ecosystem participant enabling green hydrogen project development, the same thesis underlying NovoHydrogen's go-to-market strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/modernenergy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Modern Energy Management