NovoHydrogen
NovoHydrogen is a full-service North American green hydrogen project developer using PEM electrolysis powered by behind-the-meter renewables, serving industrial, transportation, and power sector customers through long-term 10-20 year Hydrogen Purchase Agreements and a multi-gigawatt project pipeline.
- Company typePrivate
- Founded2021
- HeadquartersCentennial, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What NovoHydrogen does
NovoHydrogen is a full-service green hydrogen project developer founded in 2021 and headquartered in Centennial, Colorado (with additional office presence in Golden, CO). The company originates, develops, constructs, finances, owns, and operates green hydrogen production facilities throughout North America, targeting large-scale industrial, transportation, and power sector customers across hard-to-abate segments including glass manufacturing, steel production, heavy-duty trucking, refining, fertilizers, cement, and dispatchable power generation.
The company's core technology platform is Proton Exchange Membrane (PEM) electrolysis powered by behind-the-meter renewable energy sources — co-located solar and wind generation that directly feeds electrolyzers, avoiding grid interconnection queues and competition with other grid-connected loads. NovoHydrogen delivers hydrogen through two primary models: on-site production at customer facilities via dedicated electrolyzers, and off-site large-scale production with delivery via truck or pipeline. Capabilities extend to both gaseous and liquid hydrogen at certain facilities, including compression and storage systems. The project portfolio includes the Ace Hydrogen facility in Hutchinson County, TX (up to 1,300 MW of behind-the-meter renewable power and 175 MT/day hydrogen capacity on 70,000+ acres, with 2028 COD), Antelope Valley Hydrogen 1 near Palmdale, CA (182 MW electrolyzers on ~1,000 acres, ~27 MT/day), and the Pacific Northwest Green Hydrogen Network spanning Express Ranch, OR and Grit City, WA as part of the DOE PNWH2 Hub.
NovoHydrogen monetizes through long-term Hydrogen Purchase Agreements (HPAs) with enterprise customers — typically 10-20 year take-or-pay contracts at fixed prices that lock in contracted cash flows while providing customers predictable long-term rates. A secondary revenue stream comes from open-access hydrogen refueling stations strategically located on key interstate corridors (I-84, I-5) for heavy-duty transport fleets. Pricing is quote-based and not publicly disclosed, with value enhanced by Section 45V IRA Production Tax Credit eligibility (up to $3/kg), LCFS/CFP/CFS credit stacking (over $1/kg in CA, WA, OR, NM), and pay-as-you-go structures that avoid customer upfront capital costs. The company has raised approximately $37.5M in cumulative equity funding and has secured strategic selection into both the PNWH2 and ARCHES DOE Regional Clean Hydrogen Hubs.
NovoHydrogen firmographics
Firmographics- Name
- NovoHydrogen
- Legal name
- NovoHydrogen Holdings LLC
- Website
- https://novohydrogen.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- NovoHydrogen is a full-service North American green hydrogen project developer using PEM electrolysis powered by behind-the-meter renewables, serving industrial, transportation, and power sector customers through long-term 10-20 year Hydrogen Purchase Agreements and a multi-gigawatt project pipeline.
- Ownership category
- akta.pro rank
NovoHydrogen industry classification
Industry- Product category
- Green Hydrogen Production and Supply
- NAICS
- Industrial Gas Manufacturing (325120), Biomass Electric Power Generation (221117)
- SIC
- Cogeneration Services & Small Power Producers (4991), Motors & Generators (3621)
- akta.pro primary industry
- Hydrogen (Industrial & Mobility) (IMAEACAB)
- akta.pro secondary industries
- Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM), Cryogenic Liquid Hydrogen Storage for Power-to-X Hubs (LH2 Tanks, Boil-off Mgmt) (EUAFAFAG)
Keywords
Where NovoHydrogen is headquartered
LocationHeadquarters
- HQ city
- Centennial
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
NovoHydrogen business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Hydrogen Purchase Agreements (HPAs): Long-term take-or-pay contracts with customers typically spanning 10-20 years, where customers commit to purchasing specified volumes of green hydrogen at fixed prices. This provides contracted cash flows and price certainty for customers while ensuring reliable, predictable long-term rates. Revenue is generated through the sale of green hydrogen produced using electrolysis powered by renewable energy.
- Hydrogen Refueling Station Operations: Open-access hydrogen refueling stations strategically located on key interstate corridors (I-84, I-5) for heavy-duty transport fleets, generating revenue from fuel sales to transportation operators
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Long-term Hydrogen Purchase Agreement (HPA) pricing for enterprise customers |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
NovoHydrogen product offering
Product offeringCore offering
NovoHydrogen is a full-service green hydrogen project developer that originates, develops, constructs, finances, owns, and operates green hydrogen production projects across North America. It delivers green hydrogen to large-scale industrial, transportation, and power sector customers through two primary models: On-site Hydrogen (electrolyzer installed at the customer facility powered by zero-carbon energy) and Off-site Hydrogen (large-scale generation with delivery via truck or pipeline). The company supplies hydrogen under long-term 10-20 year Hydrogen Purchase Agreements with pay-as-you-go pricing and no upfront capital cost to customers.
Product overview
NovoHydrogen is a full-service green hydrogen project developer offering two primary delivery models: On-site Hydrogen and Off-site Hydrogen. On-site Hydrogen generates hydrogen at customer facilities using electrolyzers powered by zero carbon energy, while Off-site Hydrogen leverages large-scale generation with delivery via trucks or pipelines under long-term fixed-price contracts. The company's project portfolio includes named facilities: Ace Hydrogen (Hutchinson County, TX, up to 175 metric tons/day), Antelope Valley Hydrogen 1 (Palmdale, CA, ~10,000 metric tons/year), and the Pacific Northwest Green Hydrogen Network (Express Ranch in Oregon and Grit City in Washington). All projects use PEM electrolyzer technology and renewable power sources to produce green hydrogen for industrial, transportation, and power sector customers.
Differentiator
Problem solved
Functional benefit
Products and services
- On-site Hydrogen On-site green hydrogen generation where hydrogen is produced at the customer's facility using a PEM electrolyzer powered directly by zero-carbon energy. Replaces fossil-based SMR hydrogen for industrial processes, upgrades heavy-duty transport fleets, and produces 100% emission-free electricity on-site for industrial, transportation, and power customers.
- Off-site Hydrogen Off-site green hydrogen production that leverages the scale of large-scale generation with reliable delivery to customer operations via trucks or pipeline infrastructure. Delivered under long-term fixed-price Hydrogen Purchase Agreements as cost-effective decarbonized hydrogen gas or fuel.
- Ace Hydrogen Project Flagship green hydrogen production facility in Hutchinson County, Texas, planned for up to 175 metric tons per day of green hydrogen production on up to ~70,000 acres, with up to 1,300 MW of behind-the-meter solar and wind generation powering up to 500 MW (statement) / up to 1,300 MW (additional context) of PEM electrolyzers. Expected commercial operations date 2028; expected to create 400–500 construction jobs and multiple high-paying long-term operational jobs.
- Antelope Valley Hydrogen 1 (AVH1) Green hydrogen production facility near Palmdale in Los Angeles County, California, planned for up to ~10,000 metric tons per year (~27 metric tons per day) on ~1,000 acres, with up to 182 MW of PEM electrolyzers powered by up to 235 MW of behind-the-meter solar. Expected commercial operations date 2028; expected 300+ temporary construction jobs. Part of the ARCHES California Hydrogen Hub.
- Pacific Northwest Green Hydrogen Network Portfolio of green hydrogen production facilities in the Pacific Northwest serving heavy-duty transport and heavy industry. Includes the Express Ranch Project in Baker County, Oregon (~864 kg/day, with up to 750 kg/day for open-access refueling) and the Grit City Project in Frederickson, Pierce County, Washington (up to ~4,500 kg/day gaseous or ~2,900 kg/day liquid), with compression and storage systems. Part of the PNWH2 Hub with OCED funding support; expected to displace diesel and reduce GHG emissions by 2,000+ metric tons CO2 per year.
Quantifiable outcome
- Up to $3/kg Production Tax Credit under Section 45V of IRA for lowest carbon production pathways
- +5 more outcomes
Companies that use NovoHydrogen
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
NovoHydrogen technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
NovoHydrogen partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor and core.
- First Public Hydrogen Authority (FPH2)minorNovoHydrogen's Antelope Valley Hydrogen 1 (AVH1) project was shortlisted as one of nine projects by FPH2, the nation's first public hydrogen utility launched by California cities of Lancaster and Industry. This enables connection with reliable off-takers including municipalities, transit agencies, industrial operators, and private-sector entities.
- Pacific Northwest Hydrogen AssociationcorePartnership with the Pacific Northwest Hydrogen Association for the PNWH2 hub development, enabling NovoHydrogen's Express Ranch and Grit City projects to connect to the broader regional refueling network and receive OCED funding support.
- Pacific Northwest Hydrogen Hub (PNWH2)coreNovoHydrogen was selected by the U.S. Department of Energy to participate in the Pacific Northwest Hydrogen Hub. The hub is estimated to receive up to $1 billion in Bipartisan Infrastructure Law funding. NovoHydrogen's Express Ranch project (Node 5) signed a subrecipient agreement for initial federal funding. The hub aims to demonstrate production, processing, delivery, storage and end-use of clean hydrogen.
- OhmiumcoreStrategic partnership with Ohmium, a leading Proton Exchange Membrane (PEM) electrolyzer manufacturer. Ohmium designs, manufactures, and deploys advanced PEM electrolyzers. This partnership provides NovoHydrogen with core equipment relationships to deliver zero-carbon hydrogen solutions.
- ARCHES (Alliance for Renewable Clean Hydrogen Energy Systems)coreNovoHydrogen partnered with ARCHES for the California DOE Hydrogen hub submission. ARCHES signed a $12.6 billion agreement including up to $1.2 billion from DOE and $11.4 billion in public and private matching funds. NovoHydrogen's Antelope Valley Hydrogen 1 (AVH1) project was selected as a non-federally funded partner to work with ARCHES to scale green hydrogen deployment for hard-to-abate industries in California.
- Renewable Hydrogen AllianceminorNovoHydrogen is a proud member/supporter of the Renewable Hydrogen Alliance, an industry association supporting renewable hydrogen development.
- World Hydrogen LeadersminorNovoHydrogen is a member/supporter of World Hydrogen Leaders, participating in industry events and conferences.
- Industrial Energy Consumers of America (IECA)minorNovoHydrogen is a member/supporter of IECA, representing industrial energy consumers.
- Green Hydrogen CoalitionminorNovoHydrogen is a member/supporter of the Green Hydrogen Coalition, supporting green hydrogen advocacy and education.
- Center for Hydrogen SafetyminorNovoHydrogen is engaged with the Center for Hydrogen Safety (CHS) as a member, contributing to hydrogen safety standards and best practices.
Scale indicators17 records
Recent moves9 records
Expansion highlights6 records
NovoHydrogen competitors and assessment
Company assessmentDirect peers
- Plug Power: Plug Power is a leading PEM-based green hydrogen developer and turnkey fuel cell/EV solutions provider for industrial, transportation, and stationary power customers in North America and Europe. Directly comparable in core PEM electrolysis technology and target use cases, with similar long-term supply contracts and behind-the-meter renewable integration.
- Nel ASA: Nel ASA is a Norwegian PEM and alkaline electrolyzer manufacturer and project developer supplying green hydrogen production and refueling infrastructure globally. Closely comparable as a vertically integrated green H2 project developer using PEM technology and targeting industrial and mobility customers.
- ITM Power: ITM Power is a UK-based PEM electrolyzer manufacturer and green hydrogen project developer focused on industrial, transport, and power applications in North America and Europe. Highly comparable technology stack, project development model, and end-market focus as NovoHydrogen.
Broad incumbents
- Cummins (Accelera by Cummins): Accelera by Cummins is the zero-emissions business segment of Cummins Inc., producing PEM electrolyzers and fuel cells for heavy-duty transport and industrial customers. Comparable PEM electrolyzer offering and overlap in heavy-duty mobility, but competes as part of a much larger diversified powertrain business.
- Air Products: Air Products is one of the largest industrial gas and hydrogen producers globally with major green hydrogen megaprojects (e.g., NEOM). Comparable in green hydrogen production and long-term off-take contracts, but operates at vastly larger scale and is an established incumbent across the broader industrial gas value chain.
- Linde plc: Linde is a global industrial gases leader with significant hydrogen production, distribution, and increasingly green hydrogen project development. Overlaps with NovoHydrogen in supplying hydrogen to industrial customers and pursuing green hydrogen production; much larger, diversified incumbent.
- Air Liquide: Air Liquide is a leading industrial gas producer with major investments in green hydrogen production and refueling infrastructure. Comparable end-customers (industrial, mobility, energy) and large-scale project development capabilities; competes as an established global incumbent.
Emerging players
- Next Hydrogen Solutions: Next Hydrogen is an early-commercial-stage electrolyzer manufacturer focused on alkaline and PEM systems for green hydrogen production. Comparable as a smaller-cap pure-play hydrogen technology provider targeting industrial decarbonization, though primarily a hardware vendor rather than a full project developer.
- Ohmium International: Ohmium is a PEM electrolyzer manufacturer and NovoHydrogen's named technology partner. Directly comparable in PEM electrolysis technology, but competes as an equipment supplier rather than a downstream project developer and offtaker.
Others
- Modern Energy: Modern Energy is the lead investor in NovoHydrogen and a diversified clean energy platform that invests in, builds, and operates energy transition businesses. Adjacent relationship as a financial and strategic sponsor; comparable in that it builds and operates energy transition assets but does not compete directly in green hydrogen project origination.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
NovoHydrogen social profiles
Digital presenceNovoHydrogen financial estimates
Financial estimateRevenue estimate
Valuation estimate
NovoHydrogen leadership team
Management profileNumber of profiles
Profiles5 records
NovoHydrogen subsidiaries and ownership
Company hierarchySubsidiaries1 record
NovoHydrogen funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NovoHydrogen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NovoHydrogen
What does NovoHydrogen do?
NovoHydrogen is a full-service green hydrogen project developer that originates, develops, constructs, finances, owns, and operates green hydrogen production projects across North America. It delivers green hydrogen to large-scale industrial, transportation, and power sector customers through two primary models: On-site Hydrogen (electrolyzer installed at the customer facility powered by zero-carbon energy) and Off-site Hydrogen (large-scale generation with delivery via truck or pipeline). The company supplies hydrogen under long-term 10-20 year Hydrogen Purchase Agreements with pay-as-you-go pricing and no upfront capital cost to customers.
Is NovoHydrogen a public or private company?
NovoHydrogen is a private company. It is classified as venture growth investor backed and is currently operating.
When was NovoHydrogen founded?
NovoHydrogen was founded in 2021. It employs 1 to 10 people.
Where is NovoHydrogen based?
NovoHydrogen is headquartered in Centennial, United States, in the North America region.
How does NovoHydrogen make money?
Two revenue lines are on record. Hydrogen Purchase Agreements (HPAs) is the primary driver. The others are hydrogen Refueling Station Operations.
Who are NovoHydrogen's main competitors?
Direct peers on record are Plug Power, Nel ASA and ITM Power. Broad incumbents are Cummins (Accelera by Cummins), Air Products, Linde plc and Air Liquide. Emerging players are Next Hydrogen Solutions and Ohmium International. Modern Energy is listed as an others.
Does NovoHydrogen have an API?
No public API is recorded for NovoHydrogen.
What industry is NovoHydrogen in?
NovoHydrogen's product category is Green Hydrogen Production and Supply. Its primary akta.pro industry code is IMAEACAB, Hydrogen (Industrial & Mobility), with a secondary code of EUABAJAC, Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol). Its NAICS code is 325120 and its SIC code is 4991.