Startup Says Global Gold Rush For Buried Hydrogen is Picking Up

(AmericanProsperity.com) – A startup backed by Bill Gates and Jeff Bezos, Koloma, says that it wants to use its expertise to power a global gold rush for buried hydrogen.

This comes amid a buzz about geologic hydrogen being a potential for clean energy. This has been an overlooked resource that’s just recently been lauded for its possible role in getting away from fossil fuels. Geological hydrogen refers to the hydrogen gas that is found in its natural form under the Earth’s surface.

Pete Johnson, CEO and co-founder of Koloma, has said that geologic hydrogen is fundamentally an exploration and production business.
Johnson said, “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.”
The startup is backed by U.S. venture capital firm Khosla Ventures, Amazon’s Climate Pledge Fund, United Airlines, and Breakthrough Energy Ventures.
There has been an upswing in companies that are actively searching for geologic hydrogen deposits in recent years, prompting some analysts to call it a “white gold rush.”
Added Johnson, “Geologic hydrogen should have a very low carbon impact, but also a tiny land footprint and very low water impact.”
Johnson also said that these untapped hydrogen resources in the United States could play a pivotal and huge role in the country’s decarbonization efforts.
Experts have said that although the popularity of geological hydrogen continues to rise, there are challenges ahead for this business. There’s also concern around some people who are not totally convinced about its clean energy potential.