HyTerra Ltd (ASX: HYT) has announced a strategic partnership with Fortescue Future Industries Technologies Pty Ltd, a subsidiary of Fortescue Ltd. Fortescue will acquire a 39.8% stake in HyTerra for AU$21.9 million at AU$0.034 per share, subject to shareholder approval. This investment will fund expanded exploration at HyTerra’s Nemaha Project in Kansas, USA, including additional leasing, geophysics, and a six-well drilling campaign set to commence in Q4 2024.
The companies will enter a Strategic Alliance Agreement to advance the Nemaha Project and explore global opportunities in white hydrogen extraction. HyTerra aims to accelerate global decarbonization efforts through white hydrogen, which is naturally occurring underground. The investment will significantly increase pre-drill acreage and drilling prospects in the Mid-West USA. This partnership aligns with HyTerra’s goal to unlock commercial opportunities and advance the commercial de carbonization of industry rapidly, profitably, and globally.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
