Denver's Stealth Startup Koloma Unveils Power-Shifting Clean Tech

Denver-based startup Koloma has surfaced from stealth mode, revealing groundbreaking advancements in clean power generation.

In a bold stride towards addressing the escalating global demand for clean energy solutions, Denver-based startup Koloma has surfaced from stealth mode, revealing groundbreaking advancements in clean power generation.

With a recent infusion of $245.7 million in equity funding, supplemented by an option to acquire additional securities, the company’s total capital raised stands at an impressive $337 million since March 2022. This substantial financial backing, endorsed by industry titans including Amazon, United Airlines, and Breakthrough Energy, places Koloma firmly at the forefront of innovation in the clean energy landscape.

At the heart of Koloma’s pioneering endeavors lies the pursuit of geologic hydrogen as a potent source of sustainable energy. Co-founded by Pete Johnson, entrepreneur Paul Harraka, and Ohio State University professor Tom Darrah, the company is spearheading efforts to harness naturally occurring, carbon-free hydrogen locked within iron-rich rock formations. Leveraging technology licensed from Ohio State University, Koloma aims to locate and extract this abundant reservoir of clean energy, poised to revolutionize the energy sector.

The recent influx of funds coincides with a pivotal moment in governmental support for the exploration of geologic hydrogen. The U.S. Energy Department’s allocation of $20 million in research grants signals a significant milestone in recognizing the potential of underground hydrogen as a renewable energy resource.

As one of the recipients of these grants, Koloma finds itself uniquely positioned to capitalize on this emerging field of research, with estimates suggesting a global volume of geologic hydrogen surpassing 150 million metric tons, underscoring its vast untapped potential as a sustainable energy source.

Central to Koloma’s strategic vision is the commercialization of research and the advancement of cutting-edge technology to expedite the extraction of geologic hydrogen. Tom Darrah, the company’s Chief Technology Officer and co-founder, brings a wealth of expertise in the natural generation of hydrogen in underground reservoirs.

Building upon this foundation, Koloma is poised to deploy established energy-drilling techniques augmented by innovative technologies such as analytics, artificial intelligence, and sensors to pinpoint and extract hydrogen deposits across the United States.

The implications of Koloma’s breakthrough extend far beyond the realm of clean power generation. With the global community increasingly prioritizing decarbonization efforts in the face of climate change and environmental degradation, the demand for clean, renewable energy sources has reached unprecedented levels.

Proposed regulations from the Treasury Department further underscore the potential viability of geologic hydrogen as a cost-effective, zero-carbon energy solution, positioning Koloma as a pivotal player in shaping the future of the clean energy landscape.

In conclusion, Koloma’s ascent as a trailblazer in the clean energy sector heralds a new era of innovation and sustainability. With its recent fundraising triumphs and the backing of influential industry leaders, the company stands poised to lead the charge in unlocking the transformative potential of geologic hydrogen, paving the way for a cleaner, greener future for generations to come.