Cleantech startup Gold H2, a spinout of Houston-based energy biotech company Cemvita, has named oil and gas industry veteran Prabhdeep Singh Sekhon as its CEO.
Sekhon previously held roles at companies such as NextEra Energy Resources and Hess. Most recently, he was a leader on NextEra’s strategy and business development team.
Gold H2 uses microbes to convert oil and gas in old, uneconomical wells into clean hydrogen. The approach to generating clean hydrogen is part of a multibillion-dollar market.
Gold H2 spun out of Cemvita last year with Moji Karimi, co-founder of Cemvita, leading the transition. Gold H2 spun out after successfully piloting its microbial hydrogen technology, producing hydrogen below 80 cents per kilogram.
The Gold H2 venture had been a business unit within Cemvita.
“I was drawn to Gold H2 because of its innovative mission to support the U.S. economy in this historical energy transition,” Sekhon says in a news release. “Over the last few years, my team [at NextEra] was heavily focused on the commercialization of clean hydrogen. When I came across Gold H2, it was clear that it was superior to each of its counterparts in both cost and [carbon intensity].”
Gold H2 explains that oil and gas companies have wrestled for decades with what to do with exhausted oil fields. With Gold H2’s first-of-its-kind biotechnology, these companies can find productive uses for oil wells by producing clean hydrogen at a low cost, the startup says.
“There is so much opportunity ahead of Gold H2 as the first company to use microbes in the subsurface to create a clean energy source,” Sekhon says. “Driving this dynamic industry change to empower clean hydrogen fuel production will be extremely rewarding.”
In 2022, Gold H2 celebrated its successful Permian Basin pilot and raised early-stage funding. In addition to Gold H2, Cemvita also spun out a resource mining operation called Endolith. In a podcast episode, Karimi discussed Cemvita’s growth and spinout opportunities.
Read More:Exclusive: Houston hydrogen spinout names energy industry veteran as CEO
2024-05-01 10:05:39
