Bill Gates-backed startup on the global gold rush for buried hydrogen [Video]

Koloma, a U.S.-based clean fuel startup backed by Bill Gates and Jeff Bezos, says it wants to use expertise that has traditionally served the hydrocarbon industry to power a global gold rush for buried hydrogen.

It comes as buzz continues to build over the clean energy potential of geologic hydrogen, a long-overlooked resource that advocates say could play a pivotal role in the shift away from fossil fuels.

Geologic hydrogen — sometimes known as white, gold or natural hydrogen — refers to hydrogen gas that is found in its natural form beneath Earth’s surface. It is thought to be produced by high-temperature reactions between water and iron-rich minerals.

Pete Johnson, CEO and co-founder of Koloma, told CNBC that geologic hydrogen is …