Koloma

What Koloma does

Koloma is a technology-driven geologic hydrogen exploration company founded in 2021 and headquartered in Denver, Colorado, with a research laboratory at Ohio State University's Innovation District in Columbus, Ohio. The company's core function is to identify, access, and produce naturally occurring hydrogen from subsurface geological formations, where hydrogen is generated when groundwater reacts with iron-rich rock through serpentinization. Koloma applies a systematic six-step exploration process — geologic research and data analysis, geophysical surveys (airborne gravity, magnetics, passive and active acoustic surveys, magnetotellurics), stratigraphic test wells, laboratory evaluation, exploration wells, and land restoration — supported by a proprietary exploration database built from more than 20 years of historical data and proprietary algorithms. The company is the most capitalized player in the geologic hydrogen sub-sector, having raised approximately $501 million across multiple funding rounds (including a $245 million Series A in February 2024) and accounting for an estimated 85% of total startup capital invested in the sector.

Koloma operates as a pre-commercial enterprise and does not yet generate product revenue. Its go-to-market is enterprise-level, targeting future industrial off-takers including data center operators (for 24/7 clean baseload power, particularly for AI workloads), fertilizer and ammonia producers (for low-cost domestic feedstock), aviation and sustainable aviation fuel producers (including United Airlines as an investor), heavy transport (long-haul trucking and maritime shipping via the MOL Switch investment), and hard-to-abate industries such as steel, cement, and glass manufacturing. Distribution is direct enterprise sales supplemented by international licensing and partnership models, as evidenced by the Koloma Australia subsidiary, the Philippines Department of Energy hydrogen exploration concessions in Central Luzon, and strategic partnerships with Mitsubishi Heavy Industries, Osaka Gas, and Xcalibur Smart Mapping.

Koloma's revenue model is presently capital-funded exploration with planned future revenue from natural hydrogen sales and international technology licensing. The company's economic thesis rests on geologic hydrogen's claimed cost advantage — U.S. Department of Energy estimates indicate potential production costs under $1/kg versus approximately $6/kg for wind-and-solar-derived hydrogen — combined with zero-carbon point-of-use emissions and the ability to deliver continuous, dispatchable clean energy. The company has drilled three exploratory wells since 2022, with a fourth well currently being drilled in Iowa along the Midcontinent Rift. Koloma Australia has established an 18-million-acre land position across Western Australia, South Australia, and Tasmania. Koloma has not yet reached commercial production and remains pre-revenue, but has assembled a deep bench of strategic corporate investors whose downstream hydrogen demand is tied to the company's exploration success.

Name

Koloma

Legal name

Koloma, Inc.

Website

https://koloma.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Koloma is a technology-driven geologic hydrogen exploration company using proprietary data, algorithms, and geophysical surveys to identify and produce natural hydrogen from subsurface formations. It targets enterprise industrial off-takers across data centers, fertilizer, aviation, and heavy transport in the US, Australia, and Philippines.

Ownership category

akta.pro rank

Product category

Natural Hydrogen Exploration and Production

NAICS

Geophysical Surveying and Mapping Services (541360)

SIC

Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Seismic & Geoscience Services (Acquisition, Processing, Interpretation) (EUALABAK)

Keywords

• Geologic hydrogen exploration
• Natural hydrogen production
• Subsurface hydrogen mapping
• Hydrogen exploration technology
• Clean energy exploration services

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Natural Hydrogen Production and Sales: Koloma is in exploration and development phase. Once commercial production is established, the company will sell natural hydrogen to industrial customers, energy producers, and data centers. Natural hydrogen offers lower production costs than manufactured hydrogen due to minimal energy inputs required.
2. Technology Licensing (International): International expansion through licensing technology and partnerships, such as the Australia expansion funded by investors at USD $23.8 million and Philippines DOE concessions

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Koloma is a technology-enabled geologic hydrogen exploration company that identifies, accesses, and produces naturally occurring subsurface hydrogen using proprietary data analytics, geophysical surveys, and laboratory analysis. Its systematic six-step exploration process is designed to discover and develop commercial-scale natural hydrogen reservoirs for sale to industrial off-takers, with future revenue from hydrogen production supplemented by international technology licensing.

Product overview

Koloma is a technology-enabled natural hydrogen exploration company offering a unified portfolio of exploration services. The core offering combines proprietary data analytics and geophysical survey services to identify and access natural hydrogen accumulations, supported by a dedicated laboratory at Ohio State University for sample analysis. The company leverages its proprietary database and data analytics tools to enable large-scale clean hydrogen production with 24/7 dispatchability and global reach. Operations span the United States (with activities in Iowa, Ohio, and Colorado) and internationally through Koloma Australia.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Hydrogen Exploration Services Koloma's flagship service: a systematic exploration program that identifies, accesses, and produces natural hydrogen from subsurface geological formations through geologic research, proprietary data analysis, geophysical surveys, stratigraphic test wells, and laboratory evaluation. Targeted at large industrial off-takers, energy producers, and government entities.
• Koloma Laboratory Services State-of-the-art laboratory services at the Ohio State University Innovation District, providing mineralogy, chemistry, isotopic, and real-time data analysis of solid, liquid, and gas samples to characterize natural hydrogen systems. Supports Koloma's internal exploration program and positions as the world's only dedicated natural hydrogen lab.
• Geophysical Survey Services Geophysical survey services including airborne gravity and magnetics, passive and active acoustic surveys, and magnetotellurics to detect subsurface geologic structures and hydrogen accumulation potential with minimal environmental disturbance. Used as part of Koloma's exploration program to identify hydrogen-rich formations.

Quantifiable outcome

• Potential production cost under $1/kg compared to $6/kg for wind-and-solar-derived hydrogen
• +3 more outcomes

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Xcalibur Smart MappingcoreTechnology or Integration · 1 October 2024Exclusive partnership to accelerate discovery and development of geologic hydrogen resources worldwide. Xcalibur provides expertise in mapping hydrogen-rich geological formations combined with Koloma's advanced technology and data solutions.
• Ohio State UniversitycoreStrategic or Co-development PartnerResearch partnership for hydrogen clean fuel development. Koloma conducts research at the Innovation District lab facility at Ohio State, with CTO Tom Darrah formerly a Full Professor there.
• HondaminorStrategic or Co-development PartnerOhio State partnership mentions collaboration with Honda on next-generation battery technology; Koloma also partnered with Ohio State on hydrogen research.

Scale indicators9 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Hydroma: Canadian natural (geologic) hydrogen exploration company pursuing similar subsurface hydrogen resources via serpentinization. Closest direct competitor in the emerging natural hydrogen exploration category.
• Gold Hydrogen: Australia-listed (ASX: GHY) natural hydrogen explorer with exploration permits in South Australia. Direct competitor in the same geologic hydrogen space and a regional peer within Koloma's Australian footprint.
• Chapman Hydrogen: Early-stage US-based natural hydrogen exploration company pursuing subsurface hydrogen resources. Direct peer in the same emerging category with overlapping exploration methodology.

Emerging players

• H2EX (Natural Hydrogen Energy): Australian natural hydrogen exploration startup focused on identifying and developing natural hydrogen resources in South Australia. Emerging competitor with geographic overlap in the Australian market.

Others

• Xcalibur Smart Mapping: Geophysical mapping and survey services company that signed an exclusive partnership with Koloma. Functions as a technology enabler and adjacent service provider in the natural hydrogen exploration value chain.
• Cobalt International Energy: Deepwater exploration-led E&P company co-founded by Koloma board member Jim Farnsworth. Comparable in the upstream exploration business model and risk profile, though focused on offshore oil and gas rather than hydrogen.
• Monolith Materials: Clean hydrogen and carbon black producer co-founded by Koloma CEO Pete Johnson. Closely related company in the clean hydrogen production space and a relevant precedent for scaling hydrogen technology commercially.

Broad incumbents

• BP: Global integrated energy major with a growing hydrogen portfolio (blue and green) and a board connection to Koloma via former BP SVP Jim Farnsworth. Broad incumbent that could enter or partner in geologic hydrogen at scale.
• Mitsubishi Heavy Industries: Strategic investor in Koloma and major industrial player in hydrogen production, transportation, and end-use systems. Adjacent incumbent with strong hydrogen ambitions and existing technology stack that could compete or complement.
• Air Products and Chemicals: World's largest hydrogen producer with major green hydrogen projects (e.g., NEOM). Broad incumbent in hydrogen supply that represents both a potential competitor and a large-scale offtake or distribution partner.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kolomainc

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Koloma