About Koloma
Koloma finds and produces hydrogen that occurs naturally underground for industries seeking steady, low-carbon energy. It uses its own data and analytical tools to identify reserves. Its method can run continuously with little surface disruption while using less water and energy than other hydrogen production methods.
Koloma is based in Denver and explores in the United States and abroad. Pete Johnson is CEO and founder, while Tom Darrah is CTO and founder. The company is pursuing exploration and partnerships worldwide.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| Aug 28, 2024 | Oct 15, 2024amended Oct 19, 2026 | $61,379,999of $65.0M target | 16 | $3.8M | OptionsRule 506(b) | Form D/A ↗1 earlier filing |
| Dec 21, 2023 | Feb 9, 2024 | $245,741,773fully sold | 19 | $12.9M | Equity, OptionsRule 506(b) | Form D ↗ |
| May 25, 2023 | Jun 8, 2023 | $30,000,000fully sold | 6 | $5.0M | Debt, OptionsRule 506(b) | Form D ↗ |
| Jul 22, 2022 | Aug 3, 2022 | $55,699,925of $55.7M target | 20 | $2.7M | EquityRule 506(b) | Form D ↗ |
| Feb 18, 2022 | Mar 4, 2022 | $5,671,000of $6.0M target | 13 | $436K | Equity, OptionsRule 506(b) | Form D ↗ |
| Aug 20, 2021 | Sep 7, 2021 | $5,000,000fully sold | 5 | $1.0M | EquityRule 506(b) | Form D ↗ |
| Total, six offerings | $403,492,697 | |||||
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Rounds announced by Koloma
What the company said publicly about its funding. Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.
| Announced | Round | Amount | Investors | Source |
|---|---|---|---|---|
| Oct 15, 2026 | Investment | Undisclosed | JERA Ventures | JERA investment announcement ↗ |
| Feb 18, 2025 | Financing | $23.8 million | MOL Switch LLC and existing Koloma investors | Koloma Australia financing announcement ↗ |
| Oct 15, 2024 | Investment | Undisclosed | Mitsubishi Heavy Industries | Mitsubishi Heavy Industries investment announcement ↗ |
Why Investors Backed Koloma
Koloma explores underground hydrogen for eventual large-scale production. Koloma’s case is that discovered deposits can support continuous, cost-competitive output. Proprietary data and analytical tools guide the search in the United States and abroad.
The problem it targets
Koloma views intermittent output from many clean-energy technologies as a barrier to decarbonization. It sees steady hydrogen supply as useful for fertilizer, steel and sustainable fuels. It also expects new projects to bring jobs and lasting gains to rural areas and energy workers.
What the product does
Natural hydrogen forms underground when groundwater reacts with iron-rich rock. Koloma uses a proprietary database and analytical tools to locate potential deposits. Its technology is designed to identify, reach and produce those resources. The method uses less water and energy than alternatives and can provide output around the clock.
Progress so far
Koloma has demonstrated significant hydrogen reserves in the United States. In October 2024, it formed an exclusive natural-hydrogen exploration partnership with Xcalibur Smart Mapping. That month, it also partnered with Mitsubishi Heavy Industries and Osaka Gas on geologic hydrogen exploration. Koloma later created Koloma Australia as its first international exploration effort outside the United States. Trey Meckel became president and took charge of its team using Koloma’s data-led methods. The company announced a Koloma Australia chief executive appointment in March 2026. By July 2026, it had expanded exploration work into the Philippines.
Who backs it
JERA invested through its corporate venture arm, JERA Ventures. Mitsubishi Heavy Industries also invested. MOL Switch invested in Koloma and its Australian subsidiary, citing interest in carbon-free shipping. Other backing includes clean-energy funds and large corporations supporting the company’s exploration growth.
We wrote this summary from public statements by Koloma and its investors. It is not investment advice.
Koloma in the News
- JERA invests in Koloma to explore natural hydrogen as a future low-carbon energy source
- DoE cites promising signs in Koloma hydrogen exploration
- DOE, Koloma Launch 2D Seismic Survey For Native Hydrogen Exploration in Pangasinan
- Startup Koloma Is Exploring Hydrogen’s Potential to Fuel the Future
- Geologic hydrogen explorer Koloma, with $400 mil in funding, quiet on next step
- Koloma CEO: Geologic hydrogen could be ‘world-changing’
Leadership Team
Executive officers and directors listed on Koloma's Form D filed Oct 19, 2026.
Earlier filings also listed Jeff Knupp (executive officer, last listed Feb 2024), Thomas Darrah (executive officer, last listed Jun 2023), Robert Dickson (director, last listed Jun 2023), Paul Harraka (executive officer, last listed Jun 2023), Carrie Hudak (executive officer, last listed Jun 2023), John Deutch (director, last listed Aug 2022) and Bunmi Adekore (executive officer and director, last listed Sep 2021).