It’s possible that I shall make an ass of myself. But in that case one can always get out of it with a little dialectic. I have, of course, so worded my proposition as to be right either way (K.Marx, Letter to F.Engels on the Indian Mutiny)
Sunday, May 24, 2026
MAX Power secures $18M from Sprott in boost to plans for Canadian hydrogen
MAX Power Mining (CSE: MAXX) says it is accelerating the commercial validation of what would be Canada’s first natural hydrogen system after securing a C$25 million ($18 million) investment from mining billionaire Eric Sprott.
In a press release on Friday, the energy exploration junior said it has defined the first series of high-priority targets for follow-up drilling at the Lawson natural hydrogen system in Saskatchewan. The drilling, part of an expanded multi-well program, aims to confirm what the company considers to be the world’s first large-scale commercial discovery of this emerging new primary energy source.
In addition to hydrogen, the Lawson complex — located in the heart of the Genesis Trend adjoining the Regina-Moose Jaw Industrial Corridor — is also showing strong potential for helium deposits, the company said.
A survey was conducted this week at six proposed initial well locations at Lawson, after which the MAX Power team finalized its first three drill targets through analyzing 3D seismic data to define structurally optimal locations where the potential for gas flow, volume and concentrations of natural hydrogen and helium could support commercial validation.
Using information collected through the drilling campaign, the exploration and production models will be optimized and refined in real time, with the help of geoscientists, geophysicists, engineers and technicians, to fast-track the timeline for potential commercial discoveries, MAX Power said.
In addition, the MAX Power team has also planned a 2D seismic data acquisition program across the 475-km-long Genesis Trend to further assess dozens of preliminary and more advanced natural hydrogen prospects while also identifying potential new target areas.
Sprott backing
These plans will be funded by the C$25 million announced a day before. Under a private placement, a Sprott-owned entity would acquire 12.5 million units of the company at C$2 per unit. Each unit carries one common share and one warrant to buy shares at C$2.75 each.
Sprott currently holds more than 10% of MAX Power’s outstanding stock, and has agreed to not exceed its shareholder above 19.9%.
“MAX Power is entering the most important execution phase in its history, and Eric Sprott’s fresh investment of $25 million expands and accelerates this execution phase. Lawson confirmed Canada’s first subsurface natural hydrogen system,” MAX Power CEO Ran Narayanasamy said in a press release on Friday.
Shares of MAX Power initially surged on the Sprott investment, but fell during Friday’s trading, down about 5% to C$2.36 by 1 p.m. ET. The Vancouver-headquartered company has a market capitalization of about C$357 million ($259 million).
Canada Nickel, GeoRedox launch first-of-its-kind hydrogen initiative at Crawford
Examining core at the Crawford project in Ontario. (Image courtesy of Canada Nickel)
Canada Nickel Company (TSXV: CNC) has partnered with GeoRedox Corporation to develop the world’s first stimulated geologic hydrogen well on the site of the company’s Crawford nickel project near Timmins, Ontario.
In January, the Ontario government named the polymetallic project as the second to be advanced under its One Project, One Process framework for fast-tracked permitting.
The project will test GeoRedox’s proprietary technology for producing zero-carbon hydrogen from ultramafic rock formations — the same geology that underlies Canada Nickel’s projects in the Timmins district — and represents a foundational step toward a zero-carbon industrial cluster in Northeast Ontario, the companies said.
“The ultramafic rock that hosts our Crawford deposit and 20-plus projects across the Timmins nickel district is precisely the geology GeoRedox’s technology is designed for,” Canada Nickel CEO Mark Selby said in a news release.
“This partnership brings us a significant step closer to a zero-carbon industrial cluster in Northeast Ontario — one that converts our concentrates into finished critical mineral products including nickel, chromium and cobalt, while leveraging the region’s significant carbon storage capacity,” Selbey added.
GeoRedox will fund the demonstration program in full, while Canada Nickel will contribute site access, rock samples, technical expertise, data and other resources necessary for project planning and implementation.
The demonstration is the first phase of a program that, if successful, has the potential to provide a large-scale, carbon-free hydrogen supply for a zero-carbon industrial cluster in the Timmins nickel district.
Once constructed and in operation, Crawford is expected to rank among the Western world’s largest nickel sulphide projects and among the world’s lowest-carbon nickel operations, Canada Nickel said.
Examining core at the Crawford project in Ontario. (Image courtesy of Canada Nickel)
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