Gold Hydrogen (ASX:GHY), an ASX-listed junior explorer, has secured $14.5 million in investment from Japanese corporations Toyota, Mitsubishi Gas Chemical, and Eneos Holdings. The funding will support Gold Hydrogen’s upcoming drilling program in South Australia, scheduled for later this year. The three companies will collectively acquire 20.7 million shares at 70 cents apiece, a 22 per cent premium over the company’s closing price on Wednesday.
Gold Hydrogen is focused on developing underground deposits of natural hydrogen and helium, aiming to produce these gases more economically than traditional methods. The company, chaired by former Foreign Minister Alexander Downer, believes its South Australian project holds significant potential for natural hydrogen production.
The strategic investment from Toyota, Mitsubishi Gas Chemical, and Eneos Holdings signals strong confidence in Gold Hydrogen’s prospects. Gold Hydrogen managing director Neil McDonald said the investment opens the door to future opportunities to commercialise production, including green methanol.
This financial backing from major Japanese players marks a significant step forward for Gold Hydrogen as it progresses towards drilling and potential commercialisation. The company is now well-positioned to advance its exploration efforts and contribute to the growing hydrogen energy sector.
