Vietnamese Investment Fuels Max Power Mining's Hydrogen Exploration Drive

Max Power Mining secures $5M from Vietnam's Bitexco to advance its Saskatchewan natural hydrogen projects, including the Lawson discovery, as it moves toward commercial evaluation.

A significant capital injection from Vietnam is accelerating Max Power Mining's pursuit of natural hydrogen in Canada. The company has secured funding from a major Vietnamese conglomerate, marking a notable entry for Vietnamese investment into Saskatchewan's emerging hydrogen sector. This financial boost coincides with pivotal operational steps to assess the commercial potential of a major discovery.

Strategic Funding from Bitexco Subsidiary

On December 17, 2025, Max Power Mining finalized a private placement raising CAD $5 million. The investment originates from Big Energy Joint Stock Company, a subsidiary of the diversified Vietnamese conglomerate Bitexco. Under the terms of the deal, the company issued 16.67 million units at a price of CAD $0.30 per unit. Each unit consists of one common share and one-half of one warrant, with each full warrant exercisable at CAD $0.45 for a period of two years.

Proceeds are earmarked for the continued exploration of natural hydrogen across the company's vast 1.3-million-hectare land position in Saskatchewan, as well as for general corporate purposes. This transaction represents the first substantial foray by a Vietnamese enterprise into this specific Canadian resource sector.

Advancing the Lawson Discovery

Operational momentum is building in parallel with the strengthened balance sheet. Following an initial drill hole at the Lawson site, which intersected multiple zones containing natural hydrogen and helium at a depth of 2,278 meters, the project is moving into a commercial evaluation phase.

A comprehensive 3D seismic survey covering 47 square kilometers is scheduled to commence the week of February 23, 2026, with work being conducted by Tetra Tech. Concurrently, porosity and permeability analyses are underway at AGAT Laboratories, while isotopic studies are being performed by the University of Windsor. This multi-faceted data collection aims to enable an initial resource estimate and to identify precise locations for confirmation drilling.

A Second Drill Target Takes Shape

CEO Ran Narayanasamy is now preparing for a second hydrogen exploration drill hole. The new target, named Bracken, is situated 325 kilometers southwest of the Lawson discovery and forms part of the 120,000-hectare Grasslands Project. This represents a distinct geological approach: while Lawson tests a structural concept, Bracken will target a stratigraphic accumulation.

The Lawson discovery is located along the 475-kilometer Genesis Trend, where more than 80 additional promising structures have been identified. Industry estimates suggest potential production costs could range between US $0.50 and $1.00 per kilogram—significantly below typical costs for green hydrogen. The site's proximity to the Regina-Moose Jaw industrial corridor has already prompted preliminary discussions with potential off-takers. The Bracken drilling campaign is planned to proceed alongside the ongoing development of the Lawson discovery.