Disseminated on behalf of MAX Power Mining Corp., may include paid advertisements.
MAX Power Mining Corp. is a global leader in Natural Hydrogen, working to establish Saskatchewan as the birthplace of large-scale commercial production of this emerging new primary energy source.
Investment Considerations
- Developing a New Primary Energy Source: MAX Power is working to establish the world’s first large-scale commercial Natural Hydrogen system, unlocking energy generated naturally beneath the Earth.
- Discovery to Commercial Reality: With four Lawson wells defining the system, MAX Power is rapidly approaching the critical phase of testing whether Canada’s first confirmed Natural Hydrogen discovery can support commercial production.
- First Mover with Basin Scale Potential: MAX Power controls approximately 2.5 million permitted acres, with Lawson 5 stepping out approximately 30 km from the original discovery to begin testing the broader potential of the 475-km Genesis Trend.
- Compelling Energy Economics: Unlike manufactured hydrogen, which is carbon intensive and cost constrained, or green hydrogen, which remains expensive and intermittent, Natural Hydrogen has the potential to deliver low-cost, baseload energy with significantly improved economics and reduced emissions.
- Proprietary AI Advantage: Exploration data is powering MAXX LEMI, with Kyndryl engaged to help develop a commercialization strategy for potentially taking MAX Power’s Natural Hydrogen exploration model global.
- Where Energy Meets Demand: Lawson and the Genesis Trend sit near Saskatchewan’s Industrial Corridor as AI and industrial power demand accelerates, creating the potential to generate energy near the source and bring major users closer to it.
- Well-capitalized: MAX Power has raised more than $75 million in 2026 through a series of private placements and warrant exercises. Management, insiders and close associates, together with key investors Eric Sprott (~24%), Big Energy (~13%), and REV Exploration (~3%), own approximately 75% of the 195 million shares outstanding as of October 13, 2026.
MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FSE: 89N) is the global leader in Natural Hydrogen exploration and discovery, advancing Canada’s first confirmed subsurface system toward commercial validation while testing a much larger opportunity across Saskatchewan.
At Lawson, four wells and 3D seismic have progressively defined the system, with Lawson 4 recording the highest Natural Hydrogen readings to date as well as a Basal Cambrian reservoir and a major fault/deep conduit (Natural Hydrogen “highway”). An extensive completions program will now evaluate gas composition, sustained flow, reservoir connectivity and deliverability across all of these wells. Lawson 5 (30-km step-out from original discovery) and Bracken (325 km to the southwest on an adjacent trend) are extending the geological thesis well beyond the initial Discovery Zone.
Independent energy consultant GLJ Ltd., a global leader in its space, is supporting reservoir characterization, modelling and development scenarios as MAX Power builds a clearer understanding of the system’s potential performance and commercial viability.
The implications could extend well beyond Lawson. As highlighted by Bill Gates in recent commentary on emerging energy technologies, the search for Natural Hydrogen deposits around the globe will ramp up further as more discoveries are made and commercial viability is confirmed. With an expanding proprietary dataset and its AI-assisted MAXX LEMI exploration platform, MAX Power is positioning itself at the forefront of the emerging global Natural Hydrogen industry.
Natural Hydrogen: A New Primary Energy Source
Natural Hydrogen represents something the energy industry has not seen in generations: The emergence of a potential new primary energy source at scale, generated naturally beneath the Earth rather than manufactured from other forms of energy. If proven commercially scalable, its potential for clean, low cost and reliable energy could open an entirely new chapter in global energy production. Lawson also adds a strategic second dimension through helium, a critical resource facing constrained global supply and essential to semiconductors, the health sector (MRI’s), aerospace and advanced technologies.
Testing a Basin Scale Opportunity
The broader investment thesis is scale. MAX Power controls approximately 2.5 million permitted acres, anchored by the 475-km Genesis Trend featuring literally dozens of prospective targets.
Approximately 325 km southwest of Lawson, Bracken (on an adjacent trend) provides an important regional test, with multiple prospective zones identified through independent petrophysical evaluation and positioned for completions testing.
With Lawson advancing toward commercial evaluation, Lawson 5 stepping out approximately 30 km, and Bracken extending the geological thesis hundreds of kilometres away, MAX Power is beginning to test whether its initial discovery forms part of a much larger basin scale Natural Hydrogen system.
MAXX LEMI: Subsurface Super Intelligence with Global Monetization Potential
MAX Power is further differentiated by its proprietary MAXX LEMI (Large Earth Model Integration) platform, an AI-assisted geological framework integrating seismic, drilling, structural and legacy subsurface data to improve targeting and system understanding. Built from the company’s growing proprietary dataset, MAXX LEMI is designed to help identify and advance prospective Natural Hydrogen systems, with potential applications extending far beyond Saskatchewan.
MAX Power has engaged Kyndryl Holdings Inc. (NYSE: KD) to develop a commercialization strategy and go-to-market plan for MAXX LEMI, including potential monetization pathways such as licensing, platform access, technical services and strategic partnerships. As Natural Hydrogen emerges globally, MAXX LEMI could provide MAX Power with a scalable technology opportunity alongside its resource portfolio. The platform was also named runner-up in the Digital Innovator Category at the 2026 Canadian Hydrogen Convention, finishing behind Siemens.
Market Opportunity
The global hydrogen market is valued at approximately $250 billion and is expected to exceed $400 billion by 2030, while McKinsey has projected hydrogen could become a $2.5 trillion annual market by 2050, representing roughly 18% of final energy consumption. Conventional hydrogen typically costs $1.50–$3.00/kg and green hydrogen approximately $4.00–$8.00/kg, while Natural Hydrogen has the potential for production costs of approximately $1.00/kg or less if commercially proven at scale.
The opportunity is particularly compelling in Saskatchewan. The Regina–Moose Jaw Industrial Corridor has been estimated to support a C$708 million annual hydrogen market, with potential province-wide demand reaching C$2.7 billion annually. At the same time, Bell Canada is undertaking a $50 billion expansion of its AI infrastructure toward a 1.2 GW Hub in Saskatchewan, highlighting the scale of new power demand emerging in the province. This convergence of geology, infrastructure and energy demand positions Saskatchewan as a compelling birthplace for large-scale commercialization of Natural Hydrogen.
Leadership Team
Rob Norris, Chief Executive Officer & Director, was a high-profile Saskatchewan cabinet minister in the Brad Wall government whose portfolios included SaskPower, Innovation Saskatchewan, Advanced Education, Employment, Labour and Immigration. He served the Saskatoon-Greystone riding as an MLA from 2007 to 2016 and a key member of cabinet (2007-2012 and 2013-2014) for what is widely regarded today as one of the most successful provincial governments in Canadian history. Rob brings exceptional communication skills, business savvy, and a strong network of contacts to his new role as CEO of MAX Power after first joining the board in June 2025.
Chad Levesque, President & Director, brings more than two decades of experience in capital markets, corporate development, investor relations and strategic communications, with a key role in MAX Power’s growth strategy, strategic relationships and global positioning.
Tony Van Bergsteden, Chief Financial Officer & Director, is a CPA and CFA and former CFO of Orano Canada and VP of Finance at Federated Co-operatives Ltd., bringing extensive experience in capital allocation, governance and large-scale resource operations.
Steve Halabura, Chief Geoscientist, brings half a century of Saskatchewan resource experience and deep knowledge of hydrogen, helium and industrial gas geology to the MAX Power team. He was instrumental in the formative stages of BHP’s Jansen Project and K+S’s Bethune mine, Saskatchewan’s only two greenfield potash mines developed in the 21st century. The US$15.3 billion Jansen Project, one of the largest potash mines in the world, is located 175 km northeast of the Lawson Natural Hydrogen Discovery and is slated to commence commercial production in 2027.
Tom Kishchuk, Chief Technology Officer & Director, is Executive Director of the Global Institute for Energy, Mines and Society and brings more than three decades of technical and business leadership across the energy sector.
Neil McMillan, Director & Chairman of the Board, is the former Chairman of the Board of Cameco, the world’s largest publicly traded uranium company. He also led Claude Resources as President and CEO for many years, positioning the Saskatchewan gold producer for its eventual $337 million acquisition.
Ran Narayanasamy, Director and Vice-Chair, led a multi-year buildout of the Regina-based and globally recognized Petroleum Technology & Research Centre (PTRC). Prior to PTRC, Ran enjoyed a 17-year career with SaskPower where he excelled in multiple areas in senior roles.
Brent Dunlop, Advisory Board Chairman, combines resource and capital markets experience, having built approximately $700 million in assets under management during a 28- year career at RBC following earlier technical roles with Inco and Potash Corp.
Andy Bowering, Special Advisor, is a renowned resource investor and venture capitalist with more than 30 years of industry and capital markets experience. He co-founded Millennial Lithium, acquired for C$491 million, and has helped build, finance and advance numerous successful resource companies.
