Koloma, a Denver-based startup specializing in extracting geologic hydrogen from natural underground deposits, has successfully raised $245.7 million in its most recent funding round, days after receiving a research grant from the U.S. Department of Energy for $900,000. This influx of funds elevates Koloma's total financing to over $300 million.

Tom Darrah, director of the Global Water Institute and a professor in the School of Earth Sciences at The Ohio State University, is Koloma's Chief Technology Officer (CTO), and cofounder. Darrah's work at Ohio State has been instrumental in identifying potential hydrogen reserves and adapting oil and gas extraction techniques for hydrogen, positioning Koloma to leverage natural hydrogen pockets found globally.

While the current mainstream method of hydrogen production involves emitting carbon dioxide, Koloma's approach is a more affordable and environmentally friendly alternative.

Recently, a significant discovery of geologic hydrogen in a mine in Albania sparked interest in natural hydrogen, according to Science. 

Koloma now has the resources and the strategic advantage to lead the renewable energy industry in producing cost-effective, clean hydrogen, and contribute to the advancement of sustainable energy solutions.

To read more, visit Forbes.

Image credit: Professor Tom Darrah, Koloma's cofounder and CTO, at Ohio State University's new Energy Advancement & Innovation Center. The Ohio State University.

Related stories:

• AI-Powered Search for Potential Natural Hydrogen Reservoirs Beneath the Earth's Surface, December 31, 2023
• Geological Hydrogen, the Low-Carbon Energy Solution for the Future, August 9, 2023.
• Global Water Institute Director Tom Darrah Named Innovator of the Year for Commercializing Pioneering Green Hydrogen Technology, April 21, 2023