Desert Mountain Energy (DME) has signed an agreement with Beam Earth that includes plans for developing a white hydrogen/helium plant, a blue hydrogen plant, and a green hydrogen plant in Arizona.
The new deal looks to commence hydrogen exploration in Arizona, targeting the fourth quarter of 2024, and supersedes the previously announced agreement in July 2022.
Under terms of the agreement, BEAM Earth will carry out a lot of work for the exploration and production company. As a starting point, the company will submit a payment of $225,000 to DME within 90 days from the deal signing date.
Beyond the capital, BEAM Earth will also cover all geophysical and associated drilling costs, in addition to various planning and engineering initiatives to boost DME’s footprint in Arizona.
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