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Gold Hydrogen has hit accumulations with 80pc content at 500 metres in the Yorke Peninsula of South Australia, the frontrunner of the global hydrogen rush.
Australia has already created the world’s most advanced regulatory and permitting structure. Natural Hydrogen Energy, co-founded by Dr Zgonnik, is drilling in Nebraska. China has begun exploration in Inner Mongolia.
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“The bore hole can theoretically produce for ever, just like geothermal. You don’t have to keep redrilling, and you don’t have the decline curve of oil and gas. That changes the economics of the project drastically,” Dr Zgonnik said.