Denver-based startup Koloma, co-founded by Global Water Institute's director, Tom Darrah, has secured $91 million in funding for its innovative approach to extracting geologic hydrogen, a low-carbon, energy-rich fuel source continuously generated underground. Darrah, a renowned geologic hydrogen expert and professor of earth sciences at The Ohio State University, is Koloma's chief technology officer.

With cutting-edge technology and AI tools, Koloma identifies ideal sites for hydrogen extraction, potentially revolutionizing the energy industry. With the current hydrogen market valued at over $120 billion annually, geologic hydrogen could reshape the clean energy landscape and tap into a market estimated to be worth $1 trillion annually by 2050. 

The company is drilling in the Midwest, testing rock and gas samples to pinpoint high-purity, high-volume hydrogen locations. Geologic hydrogen offers cost-effectiveness, energy efficiency, and a lower carbon footprint than other hydrogen types. Its extraction process is safe, with deep underground hydrogen pockets minimizing explosion risks while using less water and posing fewer environmental risks than traditional fossil fuel extraction.

The Koloma team includes co-founders Chief Executive Officer Pete Johnson and Chief Business Officer Paul Harraka. Notable investors supporting Koloma's vision include Breakthrough Energy Ventures, Energy Impact Partners, Evōk Innovations, Prelude Ventures, and Piva Capital.

Read more by visiting Hydrogen Central and Carbon Credits.