Mitsubishi Heavy Industries (MHI) has invested in Colorado-based geological hydrogen exploration company Coloma.
The company’s U.S. subsidiary, Mitsubishi Heavy Industries America (MHA), made the investment, joining Amazon’s Climate Pledge Fund, Breakthrough Energy Ventures, United Airlines and others.
Coloma is active in exploration and is evaluating potential assets within the United States.
Coloma CEO Pete Johnson said partnerships like the one with Mitsubishi Heavy Industries help maximize the impact of geological hydrogen as a clean primary energy source.
This announcement is also in line with Mitsubishi Heavy Industries’ strategy.
“Creating a hydrogen solution ecosystem is one of the core strategies of Mitsubishi Heavy Industries’ energy transition business,” said Ryujiro Ishikawa, president and CEO of Mitsubishi Heavy Industries America, Inc.
“Mitsubishi Heavy Industries wants to accelerate the hydrogen economy by providing cutting-edge technology and enabling breakthrough innovation in the hydrogen field through investment in startups.”
Geological hydrogen, also known as white hydrogen, represents a gas that is produced by natural processes within the Earth’s crust and can accumulate within the Earth’s crust or continue to be produced in underground reservoirs.
Read more: Natural hydrogen is on the rise – and so is political interest
But underground hydrogen is under intense scrutiny from some companies.
Earlier this year (February 2024), Air Products dismissed the opportunity to source natural geological hydrogen, so-called white hydrogen, as “pie in the sky.”
Read more: Air Products CEO says natural hydrogen opportunity is ‘pie in the sky’
Seifi Ghasemi, the company’s chairman, president and CEO, was asked about the opportunity during an earnings call and said the company has no involvement in the geological hydrogen field.
He added that the idea that hydrogen exists in the ground, just waiting to be exploited, and that it can be easily extracted is not realistic.
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