GCIPulsar Helium signs procurement roadmap agreement with Chart Industries for processing of product from Topaz
The agreement sets out a procurement roadmap, specific to Pulsar's needs, and facilitates access to advanced gas processing technologies, including helium and carbon dioxide capture, essential for servicing a potential production scenario at Pulsar's flagship Topaz project in Minnesota.
The sets out how the parties could work together, which would be further detailed in a master services agreement that has yet to be entered into.
The idea is that Pulsar agrees to purchase the Chart carbon capture solution for the capture of helium and carbon dioxide from Topaz, allowing Pulsar to monetise these products, whilst also reducing its emissions.
Under the terms of the agreement, Chart will complete engineering studies and provide helium and carbon dioxide plant and storage recommendations for Pulsar.
"We are thrilled to have signed an agreement with Chart Industries, the gold standard when it comes to gas processing equipment,” said Thomas Abraham-James, chief executive of Pulsar.
“We look forward to working towards the signing of a master service agreement and utilising this impressive cutting-edge technology. This development is one of great significance for Pulsar, as it is in line with our commitment to realise production at Topaz whilst monetising both its helium and CO2 products, all while reducing emissions. The additional benefit of Earthly Labs and Chart carrying out engineering studies means that we will reduce third-party costs, while reducing risk and time-to-value."
The agreement states that Keewaydin Resources Inc. and Earthly Labs will work together to enter into a binding agreement under which Earthly Labs will sell its CiCi (Elm) carbon capture solution to Keewaydin Resources Inc. The CiCi (Elm) solution includes CO2 capture, purification and liquefaction technology, commissioning, and training.
Under the terms of the agreement, Earthly Labs will complete an engineering study for a carbon dioxide plant, which will include piping and instrumentation, and heat, material balance and helium recoveries. Chart will provide recommendations on a helium plant design and carbon dioxide storage tanks made in Minnesota.
View from Vox
Pulsar is beginning to look very well positioned indeed. At the macro level, even if the post-Trump bounce wears off, being inside the USA will mean the company will be immune to any effect of a coming tariffs regime. And now that it has signed up Chart Industries, it has a world-leading global manufacturer of highly engineered equipment for the energy and industrial gas sectors as partner. Chart is at the cutting-edge of technologies for gas processing, including helium liquefaction and carbon dioxide capture and utilisation. There’s soon be more news from Topaz, too. Already, Pulsar has hit significant helium there, returning showings of between 8.7% and 14.5% in February. The plan is to deepen the existing Jetstream #1 well by a further 500 metres. Drilling is scheduled for next month, and the anticipation of the results ought to provide a further fillip for the shares.
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