Bruce Nurse of Purewave Hydrogen recently joined Steve Darling from Proactive to discuss an exciting new collaboration with Robert Price aimed at exploring naturally occurring hydrogen. This initiative has led to a significant partnership with Longhorn Exploration, a company listed on the Toronto Venture Exchange under the symbol LEX. Following this partnership, both Nurse and Price have taken on directorial roles at Longhorn. Purewave, originally a private entity, holds valuable leases that it has optioned to Longhorn, with plans to merge with Longhorn under the new name Pure Hydrogen by early September.
To support its ambitious exploration activities, the company has initiated a small financing round. Purewave's exploration strategy uniquely leverages traditional oil and gas methods to identify and produce naturally occurring hydrogen. Their focus is on iron-rich rock formations, with a particular interest in Kansas' Midcontinent Rift, an area renowned for historical hydrogen shows. Recently, the company completed a comprehensive engineering and resource report with Sproule and is currently preparing for an audit. This exploration effort utilizes extensive data from historical wells and state-provided datasets.
Nurse emphasized the significant environmental advantages of natural hydrogen, highlighting its potential as a cleaner alternative to manufactured hydrogen variants, which are typically associated with high CO2 emissions and substantial production costs. The company envisions substantial future opportunities in both the US and Canada, driven by growing government support for hydrogen as a sustainable energy source. Furthermore, substantial investments from prominent entities such as Bill Gates' Breakthrough Ventures and United Airlines underscore the vast potential of the hydrogen industry, reinforcing Purewave's optimistic outlook and strategic direction.
