Pulsar Helium signs agreement with Chart Industries for gas processing technology

LONDON: Pulsar Helium Inc., listed on the AIM, TSXV, and OTCQB exchanges, has announced that its subsidiary, Keewaydin Resources Inc., has signed an agreement with Earthly Labs, a subsidiary of Chart Industries. Chart Industries is a major supplier of industrial gas processing equipment with a market capitalization of approximately $7.1 billion.

The agreement sets the stage for Pulsar to access advanced gas processing technologies for its Topaz project in Minnesota. Specifically, Pulsar will purchase Chart’s carbon capture solution, enabling the capture of helium and CO2, which will help monetize these products and reduce emissions. Chart Industries will also conduct engineering studies and provide recommendations for helium and CO2 plant and storage solutions.

Thomas Abraham-James, President & CEO of Pulsar, expressed excitement about the agreement, calling Chart Industries the “gold standard” in gas processing equipment. He emphasized that the agreement aligns with Pulsar’s goal to realize production at the Topaz project while monetizing its helium and CO2 products and reducing emissions. The collaboration is expected to lower costs and risks while speeding up value realization.

Under the agreement, Earthly Labs will sell its CiCi (Elm) carbon capture solution to Keewaydin Resources Inc. This includes technology for CO2 capture, purification, and liquefaction, along with commissioning and training services. Earthly Labs will complete an engineering study for a CO2 plant, which will include detailed engineering and helium recoveries. Chart will provide recommendations on designing the helium plant and CO2 storage tanks.

Chart Industries is known for its innovative solutions in gas processing, including helium liquefaction and CO2 capture. The company’s acquisition of Cryo Technologies has enhanced its capabilities, enabling it to offer comprehensive solutions for the gas industry.

The Topaz Helium Project in Minnesota had successful drilling in February 2024, with promising helium-bearing gas flows. Pulsar plans to deepen the well by 500 meters to fully explore the helium-bearing zone, with drilling set to commence in December 2024.

Pulsar Helium Inc. focuses on helium projects in Minnesota, USA, and Greenland. It is publicly traded on several exchanges and aims to be a leader in helium production.