Vancouver, British Columbia-based Element One Hydrogen & Critical Minerals Corp. announced it has entered into a letter of intent (LOI) with Grenoble, France-based natural hydrogen exploration company, Mantle8, to evaluate and advance prospective natural hydrogen exploration opportunities in British Columbia and Alberta.
Under the proposed collaboration, Mantle8 will contribute its proprietary natural hydrogen exploration technology, while Element One will provide regional exploration expertise, permitting experience, operational capabilities, and established stakeholder relationships. The companies intend to identify and rank exploration targets, evaluate land opportunities, and establish a path for exploration, drilling, and potential development through the joint venture agreement.
"This proposed partnership would give Element One access to an integrated technology platform designed specifically to identify natural hydrogen systems and rank the targets with the strongest potential. Together, we intend to build a disciplined pipeline of exploration opportunities, beginning in British Columbia and Alberta,” said Element One CEO and President Brad Kitchen in a press release.
Element One was founded in 2017 as Buscando Resources Corp. and rebranded in October 2025 after shifting its focus to natural hydrogen and critical minerals.
Strategic highlights of the LOI include:
- Mantle8 is expected to deploy its advanced technologies for geological modeling, hydrogen-system assessment, prospect generation, and 4D subsurface imaging.
- Element One will manage regional exploration activities, permitting, tenure, field logistics, and engagement with Indigenous and local communities and government agencies.
- Ownership, funding, governance, earn-in, operator, and commercialization terms remain subject to negotiation and execution of a definitive agreement.
“What makes Western Canada particularly compelling is the scale of the opportunity. We see the potential for a play-opening exploration program that could unlock multiple prospects across a vast area, providing a pathway to regional scalability,” said Mantle8 CEO Emmanuel Masini.
Mantle8 was formed as a geological services company in 2018 under the name M&U. In 2024, with funding from two angel investors, the company rebranded as Mantle8 and shifted its focus to natural hydrogen exploration. According to the company’s website, it is on a mission to produce commercially viable natural hydrogen by 2030. The company is currently exploring projects in France and acquired permits in Spain earlier this year.
According to the press release, the companies plan to identify priority target areas, review data, evaluate land acquisition opportunities, establish budgets, and negotiate a definitive agreement. An initial area of interest will be selected within 30 days of signing the LOI and will focus on nonstimulated natural hydrogen plays.
The LOI includes a 120-day exclusivity period, with a potential 60-day extension if negotiations continue in good faith. It also grants a 2-year right of first refusal on natural hydrogen exploration targets identified during the LOI term, subject to certain conditions.