HyTerra (ASX:HYT) finalise first stage at Project Geneva
March 14, 2023HyTerra have successfully installed supporting equipment and demobilised the completion rig at its Hoarty NE3 natural hydrogen exploration well at Project Geneva in the US state of Nebraska.
It finalises the first stage critical stage extensively monitoring gas composition, pressure and flow rate of the world’s specifically natural hydrogen gas well.
HyTerra are focused on tapping the energy from millions of tonnes of hydrogen gas pouring out of the earth every year through natural processes.
The ASX-listed company stand at the frontier of this potentially disruptive energy alternative with the Hoarty NE3 well proving the viability of direct hydrogen supply to the local US market.
HyTerra Executive Director and Chief Technical Officer Mr Avon McIntyre has said the natural hydrogen sector holds the potential to disrupt the energy industry by significantly lowering production costs and becoming a viable contender to replace fossil fuels.
“Interestingly, early results from natural hydrogen production in Africa appear to indicate a continuous resource – i.e., one that never runs out but continues to produce at a steady rate without declining, unlike traditional fossil fuel accumulations which are a finite resource,” Mr McIntyre said.
HyTerra will report on operations and outcomes as testing continues over the coming months.
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