Gold Hydrogen chair Alexander Downer reveals details of the company’s drill program on Proactive Investors.
The secret is out of the bag – the world is catching up with the potential of natural hydrogen.
Our play in South Australia would be one of the first in the world to prove near carbon-zero hydrogen exists naturally in the ground at commercial levels. That would shatter green hydrogen cost barriers and contribute significantly to clean energy goals.
And those possibilities are highlighted by a story in this week’s Australian Financial Review, which says “white hydrogen could soon shatter all energy assumptions”. (White hydrogen is natural hydrogen, what we call in Australia gold hydrogen).
The AFR said: “Every few years a disruptive technology comes out of left field and entirely changes the future of the global energy system, smashing into our consciousness like a thunderclap.”
The article cited shale fracking in 2009-11 which ended the ‘peak oil’ myth; and also mentioned the hype around green hydrogen, hydrogen that is man-made through technologies like solar and wind power.
“Today’s exuberant rush for ‘white’ hydrogen has the same feel,” The AFR said.
“We are suddenly waking up to the very real possibility that vast reserves of natural hydrogen lie under our feet and can plausibly be extracted at costs that blow away the competition, ultimately undercutting methane on pure price.”
It said the US Geological Survey concluded in April that there is probably enough accessible hydrogen in the earth’s subsurface to meet total global demand for “hundreds of years”.
And Viacheslav Zgonnik, a Ukrainian geologist, said white geologic hydrogen could be so cheap and abundant that it conquers the energy market.
All of this chatter comes on top of confirmation of the largest natural hydrogen find in Europe, in France, and announced recently.
See the full AFR story here.
With Gold Hydrogen’s maiden drilling program on track to start in October, it’s exciting times for the energy pioneer.