Vema Hydrogen and First Atlantic Nickel & Cobalt Sign LOI to Develop Engineered Mineral Hydrogen at Pipestone XL Awaruite Project in NewfoundlandGRAND FALLS-WINDSOR, Newfoundland and Labrador, June 08, 2026 (GLOBE NEWSWIRE) -- Vema Hydrogen (“Vema”) today announced that it has entered into a non-binding letter of intent dated June 1, 2026 (the “LOI”) with First Atlantic Nickel & Cobalt Corp (TSXV: FAN | OTCQB: FANCF | FSE: P21) (“First Atlantic”), to jointly develop Engineered Mineral Hydrogen, or EMH, at the Pipestone XL project, a 30-kilometer ultramafic belt in central Newfoundland. Under the LOI, the parties intend to establish a 50/50 joint venture to produce low-carbon hydrogen alongside First Atlantic's primary awaruite nickel-cobalt program. The partnership is intended to serve as a first-of-its-kind template for combining hydrogen production with critical mineral development at ultramafic sites, with the potential to attract co-located investment in clean fuels, ammonia, and downstream industry.
