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30 min ago 2 min read
Helium exploration company Pulsar Helium (Pulsar) has entered into a binding agreement to reserve a $78.7m helium liquefaction plant and equipment package for its Topaz Project in Minnesota, subject to final confirmation.
Set to be acquired by an unnamed US-based industrial gas equipment company, the plant will have a helium liquefaction capacity of around 940 litres per hour or around 8.2 million litres per year of liquid helium.
The plant is also expected to have a carbon dioxide (CO2) capture capacity of around 300 tonnes per day.
Outside of the helium purification and CO2 capture equipment, the wider equipment package includes controls, spares, compression, and storage capabilities.
Thomas Abraham-James, Director and CEO of Pulsar, said, “[This agreement] meaningfully de-risks the path to first production by securing the critical midstream infrastructure required to process, purify and liquefy helium.”
In March, Pulsar signed a with US cryogenic equipment company Chart Industries for an integrated CO2 capture and helium liquefaction facility, however, the latest agreement indicates a separate equipment package is now being progressed.
The news of the plant follows Minnesota Governor Tim Walz in May that focuses on the permitting of gas extraction projects, benefiting the state’s helium market.
The legislation bans oil wells and hydraulic fracturing in gas wells, while still allowing companies to sell CO2 captured during normal helium production.
At the time, Pulsar said the legislation would advance its Topaz project, which is targeting a final investment decision (FID) in 2026.
The Topaz project has completed flow testing across two wells, with Jetstream #1 demonstrating 8.1% helium concentrations and Jetstream #2 averaging 5.6%, respectively.
