Geologic hydrogen — sometimes known as white, gold or natural hydrogen — refers to hydrogen gas that is found in its natural form beneath Earth’s…
Koloma, a U.S.-based startup backed by billionaires Bill Gates and Jeff Bezos, says it wants to use expertise that has traditionally served the fossil fuel industry to power a global gold rush for buried hydrogen.
"We can use expertise and service providers that have traditionally served the oil, gas, and mining industries and quickly put them to work in driving the discovery of carbon free-resources. Leveraging and modifying what already exists will allow us to mature the industry faster," he said.Based in Denver, Colorado, Koloma has raised more than $305 million since it was founded just a few years ago, the company told CNBC.
Koloma's Johnson said that, as the industry has"picked up momentum and attention," there's also been a sharper focus on what he described as the"intrinsic benefits" of geologic hydrogen as a primary energy source — rather than a derivative one. Asked about the outlook for the rapidly emerging industry, Johnson said that untapped geologic hydrogen resources in the U.S. could play a significant role in the country's decarbonization efforts.
earlier this year that there could be a vast amount of naturally occurring hydrogen buried in underground reservoirs around the world.
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