Kavenex Energy Secures Investment to Explore Geological Hydrogen in Canada
Calgary startup Kavenex Energy has raised $28 million for its geological hydrogen exploration, aiming to begin drilling in 2027-2028. The company plans to produce hydrogen throughout Canada, targeting sites near power plants and industries to minimize transport. Kavenex has partnered with Koloma Inc. to utilize its expertise in hydrogen exploration. Early indications of natural hydrogen have been found in Saskatchewan, signaling potential for economic benefits and clean energy transition.
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Kavenex Energy, a Calgary-based startup, has secured $28 million in funding to explore geological hydrogen, with drilling expected to start in 2027 or 2028. The company aims to produce hydrogen across Canada, locating facilities near potential hydrogen pools to reduce transportation needs.
Kavenex has partnered with Denver's Koloma Inc. to enhance its exploration efforts. Natural hydrogen indications have emerged in Saskatchewan, highlighting the potential for economic growth and contributions to clean energy. The founders believe this exploration could mirror the economic impact of oil and gas in the past century.
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