As investor interest in natural hydrogen intensifies globally, two Canadian explorers—REV Exploration Corp. and MAX Power Mining Corp.—have formed a strategic alliance to accelerate early-stage exploration in Western Canada, with a particular focus on Alberta and Saskatchewan.
The deal includes both financial and technical collaboration. Under the agreement, MAX Power will acquire select natural hydrogen permits in Saskatchewan—officially classified as “Helium and Associated Gases” by the provincial government—from REV. In return, REV will receive $350,000 in cash over four months, 4 million shares of MAX Power at a deemed price of $0.25, and 2 million three-year warrants at the same strike price, all subject to regulatory approval and statutory hold periods.
The alliance positions REV Exploration to consolidate its operations in Alberta, where it is advancing the drill-ready Aden Dome Project near the Alberta-Montana border. CEO Jordan Potts emphasized that the Aden Dome holds strategic importance due to its geological setting and proximity to existing energy infrastructure.
Natural hydrogen, also referred to as white or geologic hydrogen, is generated through natural subsurface processes such as water-rock reactions and is believed to occur in trapped accumulations similar to hydrocarbons. The Aden Dome, which lies within a sedimentary basin historically known for oil and gas, may provide ideal subsurface conditions for hydrogen migration and trapping—though this remains to be proven through exploratory drilling.
Saskatchewan’s permitting framework, which includes “Helium and Associated Gases,” is becoming a key enabler for early-stage natural hydrogen exploration. By transferring permits to MAX Power, REV effectively exits Saskatchewan while retaining upside exposure through its equity and warrant position. For its part, MAX Power now deepens its foothold in a province where it claims dominant positioning in natural hydrogen acreage.
With the transaction, MAX Power acquires not only permits already granted but also those submitted by REV up to the end of May 2025, expanding its exploration footprint. The arrangement is structured as an arm’s-length agreement, and no finder’s fees are associated.
The alliance includes a joint technical collaboration aimed at maximizing operational efficiency and knowledge-sharing between the two companies. This includes sharing geological data and personnel resources to accelerate development timelines in both provinces. With natural hydrogen exploration still in its infancy, data-driven collaboration may prove critical in de-risking early-stage assets.
While the commercial viability of natural hydrogen remains largely untested, early indicators suggest significant promise. Unlike green hydrogen, which requires electricity for electrolysis, natural hydrogen is a direct subsurface resource. Its extraction, if technically and economically viable, could represent a low-cost and low-emissions pathway to hydrogen supply.
Stay updated on the latest in energy! Follow us on LinkedIn, Facebook, and X for real-time news and insights. Don’t miss out on exclusive interviews and webinars—subscribe to our YouTube channel today! Join our community and be part of the conversation shaping the future of energy.
