What Gold Hydrogen does

Gold Hydrogen Ltd. is an ASX-listed (ticker: GHY) subsurface energy company pursuing exploration and extraction of natural hydrogen and helium from geological formations in South Australia. Its core technology proposition is the discovery of world-leading helium purities of 36.9% at its South Australian sites, materially above typical helium concentrations in natural gas, which positions the asset as a potential domestic source of helium for a market that has lost roughly a third of global supply since 2023 and where Australia currently imports all of its helium. The company also targets natural hydrogen as part of the energy transition narrative.

The business model is resource-extraction-based: produce hydrogen and helium from subsurface deposits and sell into commodity and long-term industrial offtake markets, with helium framed as a high-value co-product that Australian LNG operators historically vent. The reported customer-segment focus is industrial gas buyers serving semiconductor manufacturing, AI infrastructure production, and other industrial applications facing helium shortages and rising spot prices. No public pricing, offtake contracts, or revenue figures are disclosed in the available data.

As of October 2025 the company rebranded from Gold Hydrogen / Gold H2 to Eclipse Energy, with its primary web presence now hosted at eclipseenergy.co. Headcount is reported at 1–10 employees, and no management team, funding rounds, partnerships, M&A activity, or regulatory actions are disclosed in the input data. The company is therefore best characterized as an early-stage, publicly listed exploration and appraisal vehicle whose commercial trajectory depends on converting the 36.9% helium purity discovery into development, offtake, and production.

Name

Gold Hydrogen

Legal name

Gold Hydrogen Ltd.

Website

https://goldhydrogen.com

Company type

Public

Operating status

Operating

Headcount range

1–10 employees

Short description

Gold Hydrogen Ltd. (ASX: GHY), now rebranded as Eclipse Energy, is an early-stage Australian subsurface energy company extracting natural hydrogen and helium in South Australia, targeting industrial gas buyers serving semiconductor and AI infrastructure markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Natural Gas Extraction and Sales: Extraction and sale of natural hydrogen and helium from subsurface geological formations. The company extracts helium as a valuable by-product rather than releasing it as waste into the atmosphere, addressing strategic supply gaps in global helium markets.

Core offering

Gold Hydrogen is a subsurface energy company that explores for and extracts natural (white) hydrogen and helium from geological formations in South Australia. The company has discovered world-leading helium purities of 36.9% at its sites, positioning it to supply domestic and international industrial gas markets, including semiconductor manufacturing and AI infrastructure customers, while capturing helium currently vented as waste by Australian LNG operators.

Product overview

Gold Hydrogen (now operating as Eclipse Energy following a rebranding in October 2025) is a subsurface energy company that has discovered significant natural hydrogen and helium deposits in South Australia. The company operates as a single unified product/offering focused on gas extraction, with its core business being the extraction and production of natural hydrogen and helium from South Australian sites. The rebranding to Eclipse Energy marks a strategic shift in positioning within the energy transition sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Eclipse Energy Subsurface Energy Operations (formerly Gold Hydrogen) Integrated subsurface energy operations spanning exploration, drilling, and production of natural (white) hydrogen and helium from geological formations in South Australia. The offering is targeted at industrial gas buyers, semiconductor manufacturers, and AI infrastructure operators requiring reliable, high-purity supply of helium and natural hydrogen.

Quantifiable outcome

• 36.9% helium purity at South Australian sites - world-leading concentration

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators2 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• HyTerra Limited: HyTerra (ASX: HYT) is the closest direct peer — an ASX-listed explorer pursuing naturally occurring (white) hydrogen and helium in North American subsurface formations. Same commodity mix, same exploration-and-extraction business model, same Australian capital-market context.
• Helium One Global: Helium One Global (LON: HE1) is a publicly listed primary helium explorer with a portfolio that also includes natural hydrogen. Same subsurface extraction model, same offtake target customer base (industrial gas buyers), and direct exposure to helium supply-demand dynamics.
• Koloma: Koloma is a privately held US-based company focused exclusively on natural (white) hydrogen exploration. It is one of the most well-funded entrants in the category and comparable on resource type, regulatory pathway, and customer economics even though it operates in a different geography.
• Noble Helium Limited: Noble Helium (ASX/AIM: NHEP) is a publicly listed helium-focused explorer in East Africa with comparable geological play concept. Same subsurface extraction model targeting industrial-gas buyers, though geographically distinct.
• Pure Hydrogen Corporation: Pure Hydrogen Corporation (ASX: PH2) is an ASX-listed hydrogen-focused developer pursuing production and distribution across Australia. Comparable on ASX listing context, hydrogen end-market exposure, and Australia-centric execution footprint.

Broad incumbents

• Air Products and Chemicals: Air Products (NYSE: APD) is the global industrial-gas incumbent and a major helium merchant. It is comparable as a buyer/competitor for helium and hydrogen offtake, operates at scale across the value chain, and sets the reference prices against which a junior's contracts would be benchmarked.
• Linde plc: Linde (NYSE: LIN) is the largest industrial-gas producer globally with active hydrogen and helium merchant operations. Comparable as a potential offtake counterparty, competitor in merchant helium, and benchmark for pricing.
• Iwatani Corporation: Iwatani (TYO: 8088) is a major Japanese industrial gas and hydrogen-mobility incumbent that sources and trades helium worldwide. Comparable as a possible offtake partner and as an incumbent setting reference prices for hydrogen distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/goldhydrogen
• Facebookfacebook.com/goldhydrogen

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 Gold Hydrogen