Vema Hydrogen and First Atlantic Nickel & Cobalt have entered a letter of intent (LOI) to develop engineered mineral hydrogen (EMH) at the Pipestone XL project in Newfoundland, Canada.

The companies plan a 50/50 joint venture to extract low-carbon hydrogen from the 30-kilometer ultramafic belt, which also hosts First Atlantic’s primary awaruite nickel-cobalt program.

EMH accelerates natural geochemical reactions in iron-rich rock without grid electricity, aiming for production costs under $1/kg. Vema CEO Pierre Levin said that validated rock samples tested in France and existing permits provide a clear path forward.

This partnership serves as a template for merging clean energy production with critical mineral mining, providing local power to lower the industrial site's dependence on transported fuels.