Eclipse Energy and Wood Validate Pathway to Low-Cost, Ultra-Low-Carbon Hydrogen from Depleted Oil Reservoirs

RenovaStrata™ H2 achieves modeled LCOH as low as $0.56/kg and carbon intensity of 0.076 kgCO₂e/kgH₂, reinforcing potential for commercial-scale, ultra-low-carbon hydrogen

HOUSTON, Sept. 22, 2026 (GLOBE NEWSWIRE) -- Eclipse Energy today announced the results of an independent techno-economic assessment conducted by Wood that validates the commercial potential of the company's RenovaStrata™ H2 technology, a breakthrough approach designed to convert depleted oil reservoirs into hydrogen-producing assets.

Wood's assessment confirms RenovaStrata™ H2’s potential to deliver ultra-low-carbon hydrogen at commercial scale at a levelized cost as low as $0.56 per kilogram. The results outperformed the company’s target of $0.70/kg and establish an economic case for subsurface hydrogen production from depleted oil reservoirs. This new pathway gives the industry a way to repurpose and extend the life of mature oil and gas infrastructure, while supporting growing demand for low carbon energy solutions, with Wood calculating an ultra-low carbon intensity of 0.076 kgCO₂e/kgH₂ for the technology.

These results validate RenovaStrata™ H2 as the leader in low-carbon energy production pathways, with the ability to produce ultra-low carbon hydrogen at a carbon intensity rate around 99% lower than the direct emissions from natural gas combustion. These results build on Eclipse's successful field demonstration and represent an important milestone in the company's commercialization roadmap.

"Our field demonstration proved the science, and Wood's assessment shows RenovaStrata™ H2 has the potential to deliver the economics and emissions performance needed for commercialization,” said Prabhdeep Singh Sekhon, CEO of Eclipse Energy. “The results provide a clear pathway from successful field demonstration to repeatable, commercial-scale hydrogen projects, without forcing a decision between lowering cost or lowering carbon."

"Our assessment provides an independent perspective on the opportunity presented by Eclipse's technology," said David Cole, Chief Operating Officer of Consulting at Wood. "The findings show incredible potential to impact the energy industry, reducing abandonment liabilities of depleted oil wells and creating opportunities for lower-carbon energy systems globally.”

This framework for commercial deployment provides a basis for future project development, investment evaluation, and scale-up. Unlike conventional approaches that treat mature reservoirs primarily as end-of-life assets, RenovaStrata™ H2 offers a compelling, scalable pathway to accelerate clean hydrogen deployment while reducing development requirements associated with greenfield projects.

“This assessment demonstrates the potential to create a new future for depleted oil fields,” said Sekhon. “We are not asking customers or investors to choose between low cost and low carbon. The assessment indicates the potential to deliver both, supporting industrial decarbonization and long-term energy demand."

A summary of Wood's assessment, including evaluation of engineering configurations, capital and operating costs, power supply options, carbon management strategies, economic sensitivities, and commercial deployment scenarios can be found here.

About Eclipse Energy
Eclipse Energy is an energy technology company that turns oil field liabilities into revenue-generating assets. Using deep microbiology, coupled with existing hydrocarbon infrastructure, Eclipse Energy’s proprietary biotechnology transforms depleted oil fields into cost-effective, sustainable hydrogen underground. Working with leading energy companies, investors, operators, off-takers, and public institutions around the globe, Eclipse Energy delivers a scalable, sustainable technology focused on being a stable and secure part of the energy landscape.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfe15bd0-09a9-4a71-bb21-d309e989d688

Media Contact
Libby Spicer
Libby@eclipseenergy.co

Eclipse Energy leads in energy technology from the intersection of geoscience, engineering, and deep microbiology to transform end-of-life subsurface liabilities into low-carbon energy opportunities.

Eclipse Energy turns liabilities into productive resources, extending the value of existing infrastructure for decades to come.