Startup Raises $350M to Unlock Earth's Hidden Hydrogen Reservoirs
Summary
A startup called Koloma has secured over $350 million in funding to pursue the ambitious goal of locating and extracting underground reservoirs of naturally occurring hydrogen, a potentially game-changing new energy source that could play a pivotal role in decarbonization efforts.
Key Points
- Koloma has raised over $350 million to find underground reservoirs of naturally occurring hydrogen
- Geologic hydrogen could be a new primary energy source and a 'skeleton key' for decarbonization
- Finding and extracting geologic hydrogen deposits is challenging, but major investors are backing the quest due to its potential huge impact