HyTerra is The first ASX listed company (ASX: HYT) with a focus on natural hydrogen.
Natural hydrogen is hydrogen that is generated through naturally occurring processes in the subsurface. Although hundreds of historical wells have observed natural hydrogen, explorers previously had no incentive to commercialise.
The urgency to decarbonise has created the ideal conditions to develop a new industry, targeting an inexpensive and sustainable supply of hydrogen.
HyTerra will explore for natural hydrogen by drilling wells in prospective regions. A successful hydrogen discovery has the potential to produce for decades and at a significantly lower cost than other forms of hydrogen.
In short, natural hydrogen could revolutionise the energy industry
HyTerra has acquired an interest (and the right to earn up to 51%) in a Joint Development Agreement with Natural Hydrogen Energy LLC. The Joint Venture includes the worlds first wildcat well specifically targeting natural hydrogen (Hoarty NE3) as well as 3,891 acres of exploration leases across Nebraska and South Carolina. The Hoarty NE3 well and surrounding lease holdings are located near Geneva city in Nebraska, USA and are known as Project Geneva.
To date, the well has been drilled, completed and swab tested and is now ready to commence an extended well test.
This test will provide the key information to define the size, extent and gas composition of a recoverable resource and its commercial potential.
On November 11th 2022 HyTerra announced that it had raised a total of $5.8 million after closing its Public Offer
Natural Hydrogen also known as subsurface, geological, native, gold, white hydrogen
- Natural hydrogen is generated through naturally occurring processes in the subsurface
- It is explored for and produced by drilling wells in prospective regions
- Although hundreds of historical wells have encountered natural hydrogen, explorers previously had no incentive to commercialise
- Hydrogen market growth, geopolitical support and rising energy prices have created the ideal opportunity to develop this new industry
- As a naturally occurring energy source, natural hydrogen could offer significant commercial advantages when compared with manufactured hydrogen (e.g. green & blue hydrogen)
- Natural hydrogen could revolutionise the energy industry
HyTerra has acquired a 10% interest (and the right to earn up to 51%) in a Joint Development Agreement with Natural Hydrogen Energy LLC.
The project area is favourably located near infrastructure and market opportunities in Geneva, Nebraska and is known as Project Geneva (previously referred to as Nebraska Northwest Project)
The Joint Venture includes the worlds first wildcat well specifically targeting natural hydrogen (Hoarty NE3) and surrounding exploration leases.
The Hoarty NE3 well targeted Precambrian basement rocks predicted to contain hydrogen enriched gases.
To date, the well has been drilled, completed and swab tested and the JV is preparing the work program for an extended well test.
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
Path to Commercialization
HyTerra is planning for the production and sales of natural hydrogen in 2024
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
USA based operations provide the critical success factors required to build a new industry
- HyTerra’s philosophy is to develop projects and production close to end-users (to minimise the handling, storage and transport of hydrogen)
- Midwest is a key area of focus for the growth of a hydrogen industry
- Natural hydrogen production could be scaled to meet growing market demand
- Initial focus is on intrastate industrial consumers – expanding to larger regional hydrogen hubs with full scale field production
- Our 2024 target would position HyTerra as a global leader in natural hydrogen as well as the broader renewable hydrogen sector
To learn more about HyTerra
Source: FuelCellsWorks (FCW)
