Koloma Seeks Geologic Hydrogen

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Geologic hydrogen

CNBC

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Bill Gates-backed startup says a global gold rush for buried hydrogen is picking up momentum

Summary

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Koloma, a U.S.-based clean fuel startup backed by 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.

Geologic hydrogen refers to hydrogen gas that is found in its natural form beneath Earth 's surface.

A dramatic upswing in the number of companies actively searching for geologic hydrogen deposits in recent years prompted analysts to describe the pursuit as a "white gold rush".

"Koloma is fortunate to have backing from diverse investors — some who are more focused on the technology and data advantages [that] Koloma is building, some who see the massive potential returns of large resource discovery, and others who are most enthusiastic about taking positions around cost advantaged low carbon derivate products that can use geologic hydrogen," Johnson said. "As with any exploration business and any new technology, there are still many challenges for us to overcome to unlock geologic hydrogen's potential," he added..

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