1,000s of years of hydrogen for under $1/kg: Our Investment in Vema Hydrogen.

The world’s energy transition depends on finding clean, affordable, and scalable alternatives to fossil fuels. That’s why we’re excited to announce our investment in Vema Hydrogen, a pioneering company developing Stimulated Geologic Hydrogen (SGH)—a breakthrough technology that could transform the global hydrogen market.

The Challenge: Scaling Cost-Effective, Low-Carbon Hydrogen

Hydrogen is a critical feedstock for the chemicals industry, including fertilisers; and has the potential to unlock decarbonisation of additional industries including steel production, aviation and shipping. Traditional green hydrogen production relies on electrolysis, requiring vast amounts of renewable electricity and water, while blue hydrogen still uses fossil fuels. Geologic or white hydrogen sounds like a great alternative, but relies upon finding reservoirs of subsurface hydrogen, which may not be accessible or useful.

Enter Vema Hydrogen. Their SGH technology sidesteps these limitations, offering a reliable, low-cost, and clean hydrogen production method that works independently of the electricity grid. Using naturally occurring chemical reactions in geological formations, Vema can produce hydrogen at less than $1/kg—a game-changer for global energy markets.

Vema's Stimulated Geologic Hydrogen process

Why We Invested

We believe that geologic hydrogen has the potential to be one of the most significant breakthroughs in clean energy, and Vema’s approach is uniquely positioned to unlock its potential at scale.

Here’s why we’re backing them:

• Predictable, scalable production – Unlike exploration-based geological hydrogen, Vema’s method allows for controlled, repeatable hydrogen generation in targeted locations.

• Ultra-low cost – With production costs below $1/kg, Vema’s SGH is competitive with fossil fuels without requiring subsidies.

• Immediate impact – Hydrogen demand is projected to increase sixfold by 2050, creating a $1.4 trillion market. Vema’s technology can rapidly deploy in multiple locations worldwide, helping accelerate the hydrogen economy.

The company has attracted strong support, raising $13 million in an over-subscribed seed round, co-led by our friends at Extantia Capital and Propeller Ventures with additional backing from us, Pace Ventures, and the Grantham Foundation.

We are proud to partner with Florian Osselin, PhD, and Pierre Levin, Vema’s visionary founders. Florian came up with the idea for stimulated geologic hydrogen and has been refining the concept in the lab for years. Pierre is an energy industry veteran with deep expertise in deploying new technologies internationally. The two were bought together by Paris-based venture studio Marble, and since then have formed a team of geologists, lab researchers, and field operators to develop Vema’s promise. Their expertise, combined with strong investor support, positions Vema as a leader in the next era of clean energy.

The Road Ahead

With this funding, Vema will focus on developing its first full-scale SGH pilot wells in North America, proving its technology at an industrial scale. If successful, this could lay the foundation for a vast new supply of low-carbon hydrogen, reducing dependence on expensive electrolysis and fossil-fuel-derived hydrogen.

Stay tuned as Vema scales its breakthrough technology—we can’t wait to see what they achieve next.

"The energy transition and emerging uses of hydrogen have spurred demand for clean hydrogen. However, existing decarbonized hydrogen production methods simply don’t work – they are too costly and energy-intensive. Vema is here to change that,” said Pierre Levin, Vema’s CEO. "It’s time to unlock a new era of scalable, low-carbon hydrogen. Our approach delivers cost-competitive clean hydrogen, even compared to natural gas. There are abundant stimulable rocks worldwide to produce for thousands of years, and we can't wait to get started.”

Further coverage

Vema raises $13M for stimulated geologic hydrogen, Axios Pro

French Tech : l'hydrogène naturel, la nouvelle source d'espoir des start-up, Les Echos

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