Published by Todd Bush on May 16, 2024
VANCOUVER, BC, May 16, 2024 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01) From the President of the Company. The Company is pleased to announce that it has signed a new agreement with Beam Earth Ltd. to commence hydrogen exploration in Arizona, targeting the fourth quarter of 2024. The previously announced agreement dated July 18, 2022 is superseded by the new arrangement. Under the terms of the new agreement, Beam Earth Ltd. will finance the following:
A payment of $225,000 USD to DME within 90 days from the signing date.
Covering all geophysical and associated drilling costs, including the completion of pilot wells.
Engineering for a combined "white" hydrogen/helium plant, leveraging DME's hydrogen separation unit currently located at the McCauley Field in Arizona.
The planning for a "green" hydrogen plant in Arizona.
The planning and engineering for ammonia and loading facilities in New Mexico and Arizona, as applicable.
Conducting geophysical work in Chaves County, New Mexico, focused on "white" hydrogen.
The planning and engineering work for "blue" hydrogen processing/reformation and power generation plants in New Mexico.
>> In Other News: Plug Signs 3 GW BEDP Contract with Allied Green Ammonia for Electrolyzer Project in Australia
DME will be the operator of record for all wells and plants in Arizona and New Mexico. Additionally, the Company will retain 100% rights, titles, and interests for all its currently owned wells in New Mexico, as well as wells #1-4, #6, and #8 in Arizona. DME and Beam Earth Ltd. will jointly share in the hydrogen and helium profits from new wells in Arizona. This partnership also paves the way for DME to process helium from additional potential sources in Arizona, should such opportunities arise.
"As previously emphasized, we remain committed to our Arizona projects," stated Robert Rohlfing, CEO of Desert Mountain Energy Corp. "This agreement offers a non-dilutive growth opportunity, allowing DME to focus on its advanced helium extraction technology and maximize return on investment. With the up-front payment and the planned work extending through Q1 of 2025, Beam Earth Ltd. is expected to invest between CDN $3.6 and $4.3 million before DME incurs more than minimal expenditures."
The total funding by Beam Earth Ltd. in Arizona will be determined by the quantity of "white" hydrogen generated from wells and their decision on the extent of utilizing DME's properties for the most cost-effective production of "green" hydrogen.
Desert Mountain Energy Corp. is a publicly traded resource company primarily focused on the exploration, development and production of helium, hydrogen, natural gas and condensate. The Company is focused on helium extraction from different raw gas sources in an environmental and economic manner supplying elements deemed critical to the renewable energy and high technology industries*.*
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌍 Climeworks Launches Mammoth: The World's Largest Direct Air Capture Plant in Iceland 🌱 Capsol And Sumitomo To Capture CO2 From A Swedish Bio-CHP Plant With New Demo ⚡ MAX Power...
Inside This Issue 🤝 New Joint Venture Announced by GLJ and Energy Fuse to Lead U.S. Carbon Sequestration and Enhanced Oil Recovery Projects 🔋 Carbon Capture COF Shows Impressive Ability to Survive...
Inside This Issue 🌪️ Carbon Clean Announces Fully Columnless Carbon Capture, With Launch of CycloneCC C1 Series ⚛️ How US States Can Lead on Carbon Removal Policy 🤝 Lummus and Advanced Ionics Esta...
This pivotal grant will fund the development of validation and best practices – including measurement, reporting, and verification capabilities. LONGMONT, Colo., Nov. 7, 2024 /PRNewswire/ -- The U...
The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) recently announced $29 million in federal funding for 12 research and development projects. This funding a...
Alto Ingredients, Inc. Enters CO2 Transportation and Sequestration Agreement with Vault 44.01
PEKIN, Ill., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols, renewable fuels and essential ingredients, announced ...
MAX Power Makes Strategic Management Move to Accelerate Natural Hydrogen Opportunities
VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) is pleased to announce that Mr. Mansoor ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.