Fortescue's FMG Future Industries Invests in HyTerra's Nemaha Hydrogen-Helium Project
Key Ideas
- Fortescue's FMG Future Industries division invests $21.9 million in HyTerra for its Nemaha project, becoming majority shareholder.
- HyTerra appoints Christine Nicolau from Fortescue to its board, leveraging her experience in exploration and project development.
- Progress at Nemaha includes expanded drilling campaign, new well permits, and strategic alliance for white hydrogen projects globally.
- HyTerra subsidiary Neutralysis and partner Natural Hydrogen Energy LLC evaluating options for the Geneva project in Nebraska.
Fortescue's FMG Future Industries Technologies division has made a $21.9 million cornerstone investment in HyTerra, securing funding for the initial exploration of its Nemaha hydrogen-helium project in the US. This investment grants Fortescue a majority shareholding in HyTerra. The funds will cover leasing costs, geophysical activities, and an expanded drilling campaign targeting new prospects in identified geological plays. Additionally, Christine Nicolau, a seasoned executive from Fortescue, joins HyTerra's board, bringing valuable experience in corporate development and project growth. The company is making strides in preparing for a significant drilling campaign at the Nemaha white hydrogen project, with recent expansions to approximately 60,000 acres and the acquisition of new infill leases. HyTerra has received three new well permits based on existing data, indicating progress towards its exploration goals. A strategic alliance agreement with Fortescue outlines plans for further acreage acquisition and exploration of white hydrogen projects globally. HyTerra's subsidiary, Neutralysis, and partner Natural Hydrogen Energy LLC are exploring options for the Geneva project in Nebraska. Overall, the article highlights positive developments and partnerships aimed at advancing hydrogen exploration and project development.
Topics
Projects
Investment
Project Development
Acquisition
Exploration
Strategic Alliance
Drilling Campaign
Board Appointment
Geological Plays
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