Hydrogen is already a key ingredient in the chemical industry and could be used as a greener fuel in industries from aviation and transoceanic shipping to steelmaking. Today, the gas needs to be manufactured, but there’s some evidence that there are vast deposits underground.The past few years have seen companies spring up around the world to try to locate and tap these resources. There’s an influx in Australia, especially the southern part of the country, which seems to have conditions that are good for making hydrogen. One startup, Koloma, has raised over $350 million to aid its geologic hydrogen exploration.
There are so many open questions for this industry, including how much hydrogen is actually going to be accessible and economical to extract. It’s not even clear how best to look for the gas today; researchers and companies are borrowing techniques and tools from the oil and gas industry, but there could be better ways.
It’s also unknown how this could affect climate change. Hydrogen itself may not warm the planet, but it can contribute indirectly to global warming by extending the lifetime of other greenhouse gases. It’s also often found with methane, a super-powerful greenhouse gas that could do major harm if it leaks out of operations at a significant level. Read more..