Buru Energy Sells Hydrogen & Helium Subsidiary to Koloma in $2M Deal

Buru Energy Ltd (ASX: BRU, OTC: BRNGF) has signed binding agreements to sell its natural hydrogen and helium arm, 2H Resources Pty Ltd, to Koloma Australia Pty Ltd in a deal worth up to $2 million AUD. The transaction also includes non-core exploration acreage in Western Australia’s Canning Basin.

The move reflects Buru’s strategic pivot towards advancing its flagship Rafael Gas Project in the Kimberley. Rafael is the region’s only proven conventional gas and condensate discovery and is expected to anchor a long-term regional energy business for Buru.

Koloma, a Denver-based company with over US$380 million in funding, is rapidly establishing itself as a leader in geological hydrogen exploration. This acquisition marks Koloma’s first major move in Australia and provides it with a portfolio of hydrogen and helium tenements across South Australia, Tasmania, and Western Australia.

Under the deal terms, Buru will receive an initial $1 million AUD payment, with an additional $1 million AUD contingent on the conversion of key South Australian licences. Notably, Buru retains an option to re-enter future hydrogen projects, allowing it to acquire up to 30% or $100 million AUD of any future development.

Completion of the sale is expected later this year, pending regulatory approvals.

Full press release can be found below.