Max Power Mining Corp. has started natural hydrogen exploration at its site in Saskatchewan, Canada, as it looks at opportunities in Ontario and Quebec.
The Rider Natural Hydrogen Project, accommodating a 1,356km2 area in the Southeast of the province, is expected to hold high concentrations of hydrogen below ground.
© Max Power Mining
Historic oil drilling in the region had shown up to 4% hydrogen in soil samples, where hydrogen had risen to the surface. However, the company previously said it had hydrogen concentrations of up to 96.4%.
Read more:Max Power discovers 96.4% natural hydrogen in Canada
In addition to kick-starting the Saskatchewan exploration, Max Power said it had secured multiple high-potential areas for natural hydrogen exploration in Ontario and Quebec.
While it hasn’t provided full details, it plans to release more information soon.
“We are off to a great start in Saskatchewan and we look forward to the possibility of monetising our Ontario and Quebec assets acquired well before the recent entry of new companies into this rapidly emerging natural hydrogen sector,” said Rav Mlait, Max Power CEO.
Analysis: Is natural hydrogen the next breakthrough or bust?
The next gold rush, a game-changer for decarbonisation and an underestimated resource: all terms used to describe natural hydrogen, which has grabbed an ever-increasing number of headlines in recent months.
Formed by natural processes inside the Earth’s crust through processes such as serpentinisation and iron oxidation, natural hydrogen can accumulate in underground reservoirs. It has been coined as the climate solution under our feet and is capturing the minds of investors, entrepreneurs and policymakers alike, often touted as a low-cost, low-impact energy source.
While fossil fuel-based grey hydrogen costs less than $2/kg on average, many anticipate natural hydrogen costs, depending on deposit purity and depth, to be around $1/kg1.
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