MAX Power's Hydrogen Pivot: New CEO Signals Commercialization Push

SASKATOON, SK – December 01, 2025 – In a move that signals a decisive shift from speculative exploration to commercial ambition, MAX Power Mining Corp. (CSE: MAXX) has accelerated the appointment of clean energy veteran Ranjith (Ran) Narayanasamy as its new Chief Executive Officer. The timing is no coincidence; it comes just as the company prepares for a critical testing phase at its Lawson project, the site of Canada's first-ever deep well drilled specifically to target natural hydrogen.

This leadership transition is more than a simple changing of the guard. It represents a strategic recalibration at a pivotal moment for both the company and the nascent global market for "white gold"—naturally occurring geological hydrogen. With early data from the Lawson well showing promise, the installation of a CEO with a deep track record in commercializing new energy technologies suggests MAX Power is positioning itself not just to make discoveries, but to build a business.

A Strategic Handover at a Critical Juncture

Effective December 1, Narayanasamy's start date was advanced by a week, a move the company attributed to "rapidly unfolding developments" at the Lawson site. This week, a service rig is moving onto the 2,278-meter-deep well to begin targeted zone testing. The goal is to determine potential flow rates, volumes, and concentrations of natural hydrogen and associated gases like helium, providing the first concrete data on the well's commercial viability.

The transition sees former CEO Mansoor Jan, who guided the company through its initial exploration phase, take the helm of a newly named U.S. subsidiary, Homeland Critical Minerals Corp. This entity will focus on developing MAX Power's Willcox Playa lithium clay deposit in Arizona, a project strategically located next to U.S. Department of Defense lands. This corporate restructuring carves out two distinct but complementary value propositions for investors: a pure-play natural hydrogen venture in Canada and a U.S.-focused critical minerals strategy.

"Ran's early arrival strengthens MAX Power exactly when it matters most," stated Director Neil McMillan in the company's official announcement. "We are now transitioning from a historic first well with highly encouraging early indications into a coordinated multi-well program that has both discovery and development ambitions." This statement underscores the board's intent to move beyond one-off milestones toward building a repeatable, scalable operation.

The Architect of Commercialization

The selection of Ran Narayanasamy is a clear indicator of this new focus. His resume reads like a blueprint for navigating the complex intersection of technology, policy, and finance in Saskatchewan's energy sector. He joins MAX Power from his role as President and CEO of the Petroleum Technology Research Centre (PTRC) in Regina, an internationally recognized energy innovation hub.

During his tenure at PTRC, which he transformed into Saskatchewan's first Energy Innovation Hub, Narayanasamy led major initiatives in technologies directly relevant to MAX Power's future: carbon capture utilization and storage (CCUS), geothermal, and crucially, research into both blue and natural hydrogen. His work extended beyond theoretical research, focusing on practical application and commercial pathways for new energy streams.

Prior to PTRC, his 16-year career at provincial utility SaskPower saw him deliver results across a wide spectrum of operations, including project management, hydroelectric development, and leading the company's international engagement on its pioneering carbon capture projects. His contributions have not gone unnoticed; he is a recipient of the Premier's Award for Public Service Excellence and the Queen Elizabeth II Platinum Jubilee Medal for his significant contributions to the province. This blend of deep technical knowledge, operational experience, and established relationships within Saskatchewan's government and industry ecosystems makes him uniquely suited to guide MAX Power's next phase.

As Narayanasamy himself commented, "Tireless planning, integrity and flawless execution – that’s what will help us build on the current momentum and develop a clear commercial roadmap for Natural Hydrogen in Saskatchewan."

Building a Dual-Focused Energy Powerhouse

While the spotlight is currently on the Lawson well, MAX Power's strategy extends far beyond a single drill site. The company is simultaneously advancing a fully funded second well at its Bracken property, located 325 km southwest of Lawson. Following a seismic survey, a drill target is expected by Christmas, with drilling slated to begin in January 2026. This demonstrates a systematic approach to exploring its dominant 1.3-million-acre permitted land package, the largest in Canada for natural hydrogen.

Underpinning this exploration program is MAXX LEMI, the company's proprietary AI-assisted Large Earth Model Integration platform. By integrating geological, geophysical, and drilling data, the system is designed to accelerate target identification and de-risk future exploration—a critical tool for efficiently tackling such a vast land position. The company is already contemplating the future monetization of this platform as a strategic asset, a nod to the value of data in this emerging sector.

Financially, the company is solidifying its position. A previously announced $5 million strategic financing from a major Vietnamese conglomerate has received final government approvals in Vietnam and is expected to close imminently. This injection of international capital not only validates the project's potential on a global stage but also provides the funding necessary to execute the ambitious multi-well program without immediate market dilution.

By spinning off its U.S. lithium asset into Homeland Critical Minerals, MAX Power is executing a savvy corporate finance strategy. It allows each entity to pursue its objectives with a dedicated management team and a clear narrative for investors, potentially unlocking value that might have remained obscured within a single, more complex corporate structure. This gives shareholders leveraged exposure to two of the most compelling long-term themes in the energy transition: the hunt for clean, geological hydrogen and the race to secure domestic supplies of critical minerals like lithium. The coming weeks of test results from the Lawson well will be the first major data point in determining if this strategic pivot can turn a historic drill into a commercial reality.