A loud, clear shot has been fired across the bow of the nascent natural hydrogen market with news that Bill Gates is backing a secretive startup drilling for geologic hydrogen in Mid-West, USA.
Geologic hydrogen is seen as a promising alternative to fossil fuels, with the market expected to grow to $250 billion by 2030 and exceed $1 trillion annually by 2050, presenting a lucrative opportunity.
Gates has been a known cheerleader for hydrogen for quite some time. Still, his immense contribution towards US$91 million to fund Denver-based Koloma’s effort to produce carbon-free hydrogen underground could help propel the clean energy movement and tap into a $1 trillion market.
Hydrogen is abundant and found on every continent. It’s a carbon-free energy source with high energy content, making it an exciting opportunity for innovative companies.
One such Company is HyTerra (ASX:HYT), exploring natural hydrogen in Kansas’s rich Mid-Western region, with numerous historical occurrences. By tapping into this potentially limitless source, this ASX-listed energy developer is moving ever closer to providing environmentally sustainable energy into the US’s huge domestic market – this could be a game-changer for those seeking greener, lower-cost energy options.
HyTerra has invested significant time in a predictive geologic model and gained valuable resource development experience through their non-operated venture in Nebraska.
The team has recently acquired Nehama Ridge leases in Kansas, which it owns and operates. Since the move in May, the team has worked hard to capitalise on its early mover advantage. New geophysical survey data gives fresh insights into the natural hydrogen resource that can fast-track discussions with end users.
HyTerra’s ongoing program covers an independent resource assessment, permitting, and well design as they prepare for exploration and drilling.
ABOUT HYTERRA
HyTerra is the first ASX-listed Company (ASX: HYT) focusing on natural hydrogen.
The Company has recently obtained a working interest in a Joint Development Agreement with Natural Hydrogen Energy LLC. This agreement allows HyTerra to earn up to 51% ownership and includes the world’s first wildcat well that specifically targets natural hydrogen.
In addition, HyTerra is actively constructing a portfolio of owned and operated lease holdings on the Nemaha Ridge in Kansas, a highly prospective area supported by at least ten historical instances of natural hydrogen. A focused exploration program is underway to identify and develop prospects into permitted well sites.
