Hydrogen Fund Backs Exploration of ‘Gold Hydrogen’ in Spain

Hydrogen Fund Backs Exploration of ‘Gold Hydrogen’ in Spain

Ascent Funds, the New York based Hydrogen fund, has signed an agreement with Helios Aragon, the hydrogen and helium exploration company, to tap ‘Gold Hydrogen’, the name given to natural hydrogen from beneath the Earth’s surface, with a view to unlocking a Spanish hydrogen hub.
One of the wells less than 100km away from Zaragoza, discovered huge quantities of hydrogen a few thousand metres below surface.

With gas exploration permits covering 89,000 hectares in northern Spain, Helios is perfectly placed to explore non-fossil based natural hydrogen, via wells originally drilled for oil and gas exploration.

Ascent will support Helios with surface geochemical analysis for hydrogen and helium gases, beginning in 2021, helping to optimise the potential for hydrogen as a clean energy source.

If substantial ‘gold hydrogen’ is unearthed, it could make the start of a regional hydrogen hub, ideally positioned near to Zaragoza, the regional capital of Aragon.

Dr. Christopher Atkinson, Chairman of Helios, commented on the project,  “At Helios, we challenge the misconception that hydrogen can’t exist in its pure form. To this end, we are excited to be working with Ascent Funds as well as regional players to propel Spain as the first true producer of Gold hydrogen on a global and commercial scale.”



By Tim Daukes, 16.12.2020

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