2 years ago

Bill Gates-Backed Startup Koloma Raises $91 Million to Drill for Clean Energy

  • Koloma, a Denver-based startup, has raised $91 million to drill for carbon-free hydrogen that’s continuously generated underground

  • The company is backed by Bill Gates’ Breakthrough Energy Ventures, Energy Impact Partners, Evōk Innovations, Prelude Ventures and Piva Capital

  • Koloma is drilling its first wells in the Midwest, testing rock and gas samples from them at a Columbus lab to determine which sites have the best hydrogen volume and purity

  • If successful, Koloma could generate tens of billions of dollars of revenue within a decade.

      • ProblemRenewable Energy

      "The world needs a clean, carbon-free energy source to combat climate change, but current hydrogen production methods are either carbon-intensive or require significant energy input."

      Solution

      "Koloma is drilling for naturally occurring hydrogen found in underground reservoirs, offering a potentially cheaper and less energy-intensive way to produce clean hydrogen."

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