New Day Hydrogen ditched Excel spreadsheets, got itself organized on Finta, and then closed a pre-seed round that unlocked matching money from the state of Colorado. They said it

“Finta filled a vital function for us. We had more than 100 ongoing conversations with VCs, and the process had become unwieldy to track with a spreadsheet. We converted our data to Finta very efficiently and then used it to help get the deal done.” - Seth Terry, CEO of New Day Hydrogen

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The executive team at New Day Hydrogen build their lives around a “leave no trace” philosophy of environmental stewardship.

After a roaring start to 2024 that includes a pre-seed funding round and $9 million federal grant, their startup business is looking like a pretty good match for that ideal.

Englewood, Colorado-based New Day Hydrogen is now designing its first three commercial hydrogen fueling stations, or “micro hubs,” that will enable commercial trucking without noxious and environmentally damaging diesel fuel.

“We’ve taken a demand-driven approach that focuses on the underlying economics and technology needed to bring this innovation to life,” CEO Seth Terry said. “Now we’ve got the tailwind to deliver our first micro hub systems to reality for the transportation sector and the environment.”

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Using Finta To Manage Their Fundraising

Seth set out in 2023 to raise a pre-seed round to match the $250,000 grant New Day Hydrogen had received from Colorado’s Office of Economic Development and International Trade.

At first, Seth managed this process via a spreadsheet. But as the number of investor calls stretched into the hundreds, Excel became extremely cumbersome. Seth had learned about Finta during his time as a participant in Gener8tor's Sustainability Accelerator and decided to use the Finta platform to manage his raise.

• Investor management New Day Hydrogen used Finta to organize, plan and prioritize calls with investors. Finta’s dynamic, intuitive CRM is built specifically to help startup founders map and then execute their raise.
• Data room New Day Hydrogen made ready use of Finta’s customizable data room, breaking it down into comprehensive sections that were easy to share with investors. Over time, this data room became a primary place the company stored many business documents because they were so easy to use and share.

In all, Finta played a crucial role in closing their pre-seed round. New Day Hydrogen will be opening a new round soon, alongside a $9M federal grant.

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What’s Next for New Day Hydrogen

New Day’s founders are implementing important technology within the bigger international movement to establish green energy infrastructure in transportation.

Hydrogen electric vehicles provide an alternative to diesel and can complement ongoing efforts towards zero-emissions where batteries don’t match well with fleet operations.  

The federal grant will support the development of three hydrogen fueling micro hubs in Colorado, each of them strategically placed, to create a corridor for hydrogen-fueled commercial trucks. New Day Hydrogen expects to implement its stations in 2025.

“We feel like we’ve been shouting into the wind while we matured as a company and got ready for this moment,” Seth said. “Now we have a strong runway and we’re feeling really good about our trajectory.”