Peter Coleman, who retired as Woodside CEO last year, has emerged as an investor in H2EX and will also chair the outfit.
Former Woodside Petroleum chief executive Peter Coleman has emerged as a “significant” backer of natural hydrogen explorer H2EX and will also chair the start-up that is targeting pilot production from deposits of the gas in South Australia within five years.
with a view to targeting so-called “gold” hydrogen – gas that is naturally occurring rather than “green” hydrogen, which is made using electrolysis powered by renewable energy, or “blue”, made from natural gas or coal with carbon capture. “If this works and works at scale then it’s going to be very, very competitive with any other form of hydrogen,” Mr Coleman said, pointing to work also being carried out overseas in Russia, Africa and Europe.
A teaser for potential investors in H2EX refers to a possible “annual revenue opportunity” or up to $500 million with a low-cost business model. With Mr Hanna and Ms Brecker being former colleagues at Woodside and picking up permits early, “it was just natural for us to get together, given my interest,” Mr Coleman said.
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