Pulsar Helium Secures $85.5M Deal with Baker Hughes for Rare Gas Hub
Event summary
- Pulsar Helium signed a $85.5M deal with Baker Hughes for helium purification and liquefaction plant equipment.
- The plant will have a capacity of 7.5M liters of liquid helium annually and 300 tonnes per day of CO2 capture.
- First payment of $5.025M due upon signing, with next milestone payment of $8.55M scheduled for January 31, 2027.
- Project remains subject to financing, site arrangements, permits, and regulatory approvals.
- Equipment manufacture scheduled to take place over a two-year period following the Milestone 2 payment.
The big picture
Pulsar Helium's deal with Baker Hughes marks a significant step in developing an industrial-scale rare-gas processing infrastructure in Minnesota. The strategic partnership underscores the growing demand for helium and CO2 capture solutions, aligning with broader industry trends towards sustainable and scalable gas processing technologies. The $85.5M deal highlights the scale of investment required to advance such projects, with the potential to reshape the regional helium supply landscape.
What we're watching
- Financing Execution
- Whether Pulsar can secure the remaining payments under the proposal and wider development costs of the plant.
- Project Timelines
- The pace at which Pulsar can advance financing alternatives and meet the milestone payments to avoid project suspension.
- Regulatory Approvals
- How the receipt of required permits and regulatory approvals will impact the project's development timeline.