Primary Hydrogen Gains 5.9% as AI Data-Center Demand Lifts Natural Hydrogen Narrative Ahead of Wicheeda North Spud
Published on 09/24/2026 at 06:50 | Editorial boerse-global.de
Primary Hydrogen shares advanced 5.9% on Wednesday to close at 0.7150 EUR, buoyed by a broader wave of interest in natural hydrogen that has been reignited by the power-hungry demands of artificial intelligence data centers. The stock had finished the prior session at 0.7100 EUR, up 5.2%, though it remains down 44% over the past 30 days — a reminder that the recent bounce has done little to repair a bruising month.
AI's Thirst for Power Puts Natural Hydrogen in the Spotlight
Media reports circulating Wednesday thrust the commercial potential of natural hydrogen back to the fore, with the sector's appeal increasingly tied to data-center operators hunting for low-carbon, reliable power generation that can run on-site, independent of existing grids. Natural hydrogen is being framed in these discussions as a scalable primary energy source capable of meeting that demand, a narrative that has cast fresh attention on the wider hydrogen exploration space and lent support to smaller players such as Primary Hydrogen.
That sector tailwind arrives while the company is in the thick of project activity. Whether the momentum translates into lasting gains in the share price will hinge largely on operational execution across its properties, leaving investors focused on what happens on the ground.
Wicheeda North Prepares for October 1 Spud
The operational centerpiece is the Wicheeda North rare-earth project in British Columbia, where Primary Hydrogen has wrapped up its first round of soil sampling and contracted Radius Drilling to carry out the maiden drill program. Roughly 1,500 metres of drilling are planned, with a start date of October 1, 2026, and all holes targeted for completion by November 1, 2026.
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Two soil anomalies — designated internally as Grid A-South and Grid D-South — form the core of the campaign. Both zones returned the highest rare-earth concentrations in the company's entire soil-sample dataset and have yet to be tested by the drill bit. Management has confirmed that the 2026 work is fully funded from the existing cash balance.
Land Position Widens Across Hydrogen and Helium
Beyond rare earths, Primary Hydrogen has been steadily expanding its footprint in natural hydrogen. The company holds the Wallace and Northumberland projects in Nova Scotia's Cumberland Basin, having acquired Wallace about three weeks ago. In northwestern Ontario, it staked the Seagull North property just over a month ago, adjacent to ground hosting active exploration drilling for natural hydrogen and helium. A marketing agreement with Nordcore Media was also signed roughly a month back.
Shareholders Back Board, Auditor and New Option Plan
Governance matters were settled at the company's annual and special meeting held just over a week ago, where 911,489 common shares — 12.29% of the issued capital — were represented. Every resolution put to shareholders passed with the required majority.
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The size of the board was fixed at four members, with David Jackson, Benjamin Asuncion, William Timothy Heenan and Martin Kowcun all returned to the Board of Directors. Shareholders also approved a new stock option plan combining a flexible component of up to 10% with a fixed portion of the same maximum, and re-appointed DMCL Chartered Professional Accountants as auditor.
With financing secured and the drill rig booked, attention now turns to early October, when the company is expected to move from planning to actual fieldwork at Wicheeda North.
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