Longhorn Exploration, a Canadian mineral exploration, entered a lease acquisition agreement with PureWave Hydrogen, a Colorado based natural hydrogen exploration company, to obtain exclusive rights to explore and produce natural hydrogen over ~315 net acres in Kansas. The agreement mandates Longhorn to pay C$300k, issue 2mm shares, and spend C$3mm on the properties within three years. Concurrently, Longhorn plans a private placement to raise up to C$1.3mm. The transaction will see board changes, with representatives from PureWave Hydrogen joining Longhorn’s board. Currently, HyTerra and Koloma are the only two publicly known companies exploring natural hydrogen in Kansas.
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See AllKoloma, a startup pioneering the extraction of carbon-free hydrogen from natural underground deposits, secured $245.7mm in a recent...
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