How to buy shares in Gold Hydrogen
There’s potential to extract hydrogen gas from underground in the future.
Hydrogen is everywhere. It’s the most abundant element in the universe and a top contender for headlines. However, gathering significant amounts of pure hydrogen isn’t simple.
Gold Hydrogen is searching for naturally occurring hydrogen gas in South Australia. When the state department’s geologists explored the Yorke Peninsula for oil in the 1920s and 1930s, they also reported finding pockets of hydrogen underground. The region’s combination of iron-rich rocks and salty water is an ideal environment for a chemical reaction that produces hydrogen.
With funding from their recent ASX IPO, the company’s adding modern techniques to identify and investigate drill targets on their licence area. They could start work at their Ramsay Project by the third quarter of 2023. The main aim is to confirm there’s enough hydrogen gas to be economically extracted and that it has high purity levels, with historical data showing up to 89%.
Usually called gold or white, the commercialisation of this form of natural hydrogen is at a very early stage. It could present a cost efficient option with low carbon emissions, but establishing these details will require much more work. If all goes well over the next few years, it could quickly assert its place amongst the hydrogen rainbow.
The International Energy Agency expects global hydrogen demand to grow from 94 million tons (Mt) in 2021 to 179 Mt by 2030. There’s particular interest from industries such as trucking, shipping, aviation and steel-making to use hydrogen as a fuel that doesn’t emit carbon dioxide when burned. The emerging sector represents an exciting opportunity, but only time will tell whether the company strikes gold.
Gold Hydrogen is available to trade on Stake under the ticker GHY.