Japan’s JERA Invests in Koloma as Natural Hydrogen Attracts Strategic Energy Sector Capital
Japan's largest power generation company, JERA, has invested in US-based natural hydrogen explorer Koloma through its corporate venture capital arm, JERA Ventures, marking another strategic investment in the emerging geological hydrogen sector.
Announced on October 15, 2026, the investment gives JERA an opportunity to deepen its understanding of natural hydrogen exploration and development as it evaluates potential future sources of low-carbon energy. The companies did not disclose the investment amount, ownership stake or any associated commercial agreements.
For Koloma, the investment adds a major international energy company to a shareholder base that already includes prominent technology and climate-focused investors. For JERA, it provides exposure to an emerging resource category that could eventually complement its established electricity generation and global fuel supply businesses.
Headquartered in Denver, Colorado, Koloma specializes in identifying and evaluating naturally occurring hydrogen resources. The company combines proprietary geological datasets, specialized exploration tools and field experience to investigate geological environments that may support hydrogen generation and accumulation.
Koloma has raised more than US$400 million from investors including Breakthrough Energy Ventures, Khosla Ventures and Amazon, according to JERA's announcement. The latest investment extends that funding history, although the release does not specify whether the reported total includes JERA's contribution.
The involvement of a major power producer is significant because it brings a different strategic perspective to natural hydrogen investment. Venture capital firms have supported early exploration and technology development, while an established energy company such as JERA can evaluate the resource in the context of future fuel procurement, infrastructure requirements and electricity generation.
JERA is one of the world's largest buyers of liquefied natural gas and produces approximately one-third of Japan's electricity. Its operations extend across upstream gas exploration and production, LNG procurement and transportation, and power generation.
That experience gives the company a basis for assessing how a new primary energy resource might eventually fit into established energy supply chains, although the announcement does not identify any plans to purchase hydrogen from Koloma or develop a joint production project.
JERA said the investment will help it better understand Koloma's approach to natural hydrogen exploration and development. The emphasis is therefore on gaining technical and commercial insight rather than securing an announced hydrogen supply.
The October 15 announcement does not identify specific Koloma projects, new drilling results, gas concentrations, flow rates or resource estimates associated with JERA's investment.
It also does not announce a joint exploration program or a development timetable.
Instead, the transaction is best understood as a strategic investment that gives JERA exposure to Koloma's technical capabilities and a closer view of how the natural hydrogen industry is developing.
The investment is being made through JERA Ventures, which has a strategic investment capacity of US$300 million.
The corporate venture capital arm invests in emerging technologies and businesses while building relationships across industry, government and academia.
Its role is to identify innovations that could support the broader JERA Group's energy strategy, including technologies and resources relevant to energy security and decarbonization.
JERA has set a target of achieving net-zero carbon dioxide emissions across its domestic and overseas businesses by 2050.
Full press release is attached below:
2026/10/15 JERA Co., Inc. (JERA), through its corporate venture capital arm JERA Ventures, has invested in Koloma, Inc. (Koloma), a U.S.-based natural hydrogen exploration and development company.
The investment, as well as insight into Koloma’s approach to natural hydrogen exploration and development, will support JERA’s efforts to deepen its understanding of natural hydrogen’s potential as a future source of low-carbon energy.
Headquartered in Denver, Colorado, Koloma combines proprietary geological data, specialized exploration tools and field experience to identify and evaluate prospective natural hydrogen resources. The company has raised more than US$400 million from investors including Breakthrough Energy Ventures, Khosla Ventures and Amazon.
Natural hydrogen found underground is gaining interest as a potential low carbon energy source. Unlike manufactured hydrogen, which requires significant energy input for production, natural hydrogen occurs naturally beneath the Earth’s surface and can potentially be extracted directly, without the need for energy-intensive production processes. As a result, it could offer a lower-cost source of low-carbon hydrogen if commercially viable resources can be identified and developed at scale.
The U.S. Geological Survey has estimated that approximately 5.6 trillion tonnes of natural hydrogen may exist underground globally, although only a fraction is expected to be technically or economically recoverable. While natural hydrogen has been identified in locations around the world, commercial-scale resources have yet to be established.
Through investments in emerging technologies and businesses, JERA is exploring new energy solutions that can contribute to both energy security and decarbonization. JERA will continue to work with innovative companies to develop new options for a reliable and lower-carbon energy system.
Koloma’s Natural Hydrogen Exploration Site
About JERA
JERA is a global energy leader and Japan’s largest power generation company focused on providing cutting-edge solutions to the world's energy issues. Established in 2015, the company produces one-third of Japan’s electricity and is one of the largest LNG buyers in the world. JERA has global reach and strength throughout the energy supply chain, including participation in upstream gas exploration and production, LNG projects, fuel procurement and transportation, and power generation globally.
In support of a responsible energy transition, JERA aims to achieve net-zero CO₂ emissions from its domestic and overseas businesses by 2050.
About JERA Ventures
JERA Ventures is the corporate venture capital arm of the JERA Group, with a strategic investment capacity of USD 300 million.
In addition to investing in startups with cutting-edge technologies and innovative business concepts, JERA Ventures actively collaborates with a broad range of stakeholders across industry, government, and academia that form the startup ecosystem. Through these activities, JERA Ventures aims to drive open innovations in the energy sector.
