Cemvita Factory announced multiple developments with its Gold Hydrogen business. Cemvita defines Gold Hydrogen as the biological production of hydrogen in the subsurface through the consumption of trapped or abandoned resources. Gold Hydrogen is a novel source of carbon neutral hydrogen produced from depleted oil reservoirs that are ready for plug and abandonment, extending the life of wells that would otherwise be a significant burden.
After achieving a key milestone in microbe performance required to produce hydrogen at $1/kg in the lab, Cemvita successfully completed a field pilot program with positive results. Following successful field trial results, Cemvita has created a wholly owned subsidiary for the Gold Hydrogen business, Gold H2 LLC (GH2), and subsequently raised and closed funding into the entity, led by founding investors Chart Industries and 8090 Industries….