Mitsubishi Heavy Industries Backs Geologic Hydrogen Startup

• Koloma's powerful data-driven approach helps in the discovery of geologic hydrogen resources.
• MHI Group supports their partners in accelerating energy transition and net zero goals.

Mitsubishi Heavy Industries (MHI), an energy equipment manufacturer based in Japan, has invested in Koloma, a US-based geologic hydrogen Exploration startup.

Mitsubishi Heavy Industries, through its American branch, Mitsubishi Heavy Industries America (MHIA), announced the investment. Other investors who participated in the funding round include Breakthrough Energy Ventures, Amazon's Climate Pledge Fund, and United Airlines' Sustainable Flight Fund.

Koloma focuses on "geologic hydrogen," which is trapped underground; their job is to find it and harness its potential. To this end, they use advanced technology and data to explore and understand these hydrogen sources, which can be useful in reducing carbon emissions.

"Building a hydrogen solution ecosystem is one of the core strategies in the energy transition business for MHI," said Takajiro Ishikawa, President and CEO of MHIA. "In MHI's role as a value chain solutions provider, we are aiming to accelerate the hydrogen economy by both offering cutting-edge technologies and enabling breakthrough innovations in the hydrogen space through investments into startups."

"We are excited to welcome Mitsubishi Heavy Industries to the Koloma family," said Pete Johnson, CEO of Koloma. "Partnerships with industrial leaders like MHI will maximize the positive impact geologic hydrogen can have as a new clean primary energy source. We look forward to collaborating and innovating together to drive progress in this field and in the broader energy transition."

MHI's goal is to back their partners in developing technologies capable of reducing carbon emissions. They offer diverse options to help their customers achieve net-zero emissions targets.

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Source: Mitsubishi Heavy Industries