The co-founders of Helios Aragon Pte Ltd have entered into a Joint Study Agreement with Nickel Industries Ltd (“Nickel Industries”) to explore for natural hydrogen in Sulawesi, Indonesia.

The focus on Sulawesi represents the continued implementation of a strategy to grow a quality, low-commitment, global portfolio of natural hydrogen and helium opportunities ahead of a listing in early 2027. Helios Aragon is operator of the Monzón Natural Hydrogen Project in Spain, the first such development in Europe. There are also exploration activities underway in Oman, Poland, the Philippines and the UK by the Helios group of companies.

Ian Munro, CEO of Helios Aragon and Helios Indonesia Pte Ltd, commented:

“Sulawesi has been identified through our global screening studies as a prospective region to find commercial quantities of natural hydrogen. The geology is considered optimal for large-scale, in-situ hydrogen accumulations, which is evidenced by multiple surface seeps, and thick sedimentary sections above ultramafic source rocks provide attractive targets.

We plan to leverage portfolio exploration learning’s together with Nickel Industries operational expertise to gain a thorough understanding of the hydrogen play system and build stakeholder support for exploration activities. The goal is to produce the cleanest and lowest cost hydrogen close to market, which can enhance energy security and support the transition to a lower carbon future”.

Global and international Law Firm SQUIRE PATTON BOGGS assisted in the delivery of the Joint Study Agreement and also in the international development of the respective Helios natural hydrogen and helium projects.