Thor Energy enters hydrogen and helium industry

Thor Energy Plc (ASX:THR) has announced its entry into the Australian natural 'white' hydrogen and helium market. The company acquired an 80.2% stake in Go Exploration Pty Ltd, a key player in South Australia with significant exploration licenses. This move aligns with Thor's strategy to enhance its clean energy portfolio.

Thor Energy's strategic acquisition and future plans

Thor Energy's acquisition of an 80.2% stake in Go Exploration Pty Ltd marks its strategic entry into the natural hydrogen and helium sectors in South Australia. This acquisition supports Thor's ambition to strengthen its clean energy offerings. The company has raised GBP£1,000,000 to fund this expansion, reflecting strong investor confidence. Thor plans to use the funds for acquisition costs and to advance its US core projects and Alford Copper-Gold Project. The acquisition is pending shareholder approval, with a general meeting scheduled for late November 2024. Thor aims to establish prospective resources and commence drilling by 2025, further solidifying its market position alongside other key players in the region.

Executive commentary on strategic acquisition

The acquisition of Go Exploration is a strategic step for Thor Energy, reinforcing our commitment to the clean energy economy. With significant exploration potential in natural hydrogen and helium, we are well-positioned to capitalize on the growing demand for these resources in South Australia.