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NEWS RELEASE | NOVEMBER 20,
2024 | CASCAIS, PORTUGAL
PULSAR HELIUM SIGNS AGREEMENT
WITH CHART INDUSTRIES FOR HELIUM AND CO2 CAPTURE AND
PRODUCTION
Pulsar Helium Inc. (AIM: PLSR, TSXV:
PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), the helium project
development company, is pleased to announce that its wholly owned
Minnesotan subsidiary, Keewaydin Resources Inc., has signed an
agreement (the "Agreement")
with Earthly Labs, a subsidiary of Chart Industries (NYSE: GTLS,
market capitalisation approx. USD$7.1 billion), a leading supplier
of industrial gas processing plant and equipment. The Agreement
outlines 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 ("Topaz").
The Agreement sets out the following
principal terms for how the parties could work together, which
would be further detailed in a master services agreement to be
entered into:
•
Pulsar would agree to purchase the Chart carbon capture
solution to capture helium and CO2 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 CO2 plant
and storage recommendations for Pulsar
Thomas Abraham-James, President & CEO of Pulsar,
commented: "We are thrilled to have
signed an Agreement with Chart Industries, the gold standard when
it comes to gas processing equipment. 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."
Details of the Agreement
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 CO2 plant,
which will include P&ID and heat, material balance and helium
recoveries. Chart will provide recommendations on a helium plant
design and CO2 storage tanks made in Minnesota.
About Chart Industries
Chart Industries is a leading global
manufacturer of highly engineered equipment for the energy and
industrial gas sectors, offering innovative solutions across the
entire liquid gas supply chain. The company excels in developing
cutting-edge technologies for gas processing, including helium
liquefaction and carbon dioxide capture and utilisation.
Chart's acquisition of Cryo
Technologies has significantly enhanced its capabilities in helium
processing, enabling the company to provide complete solutions for
liquefying, storing, distributing, and marketing helium, regardless
of plant capacity. Their helium liquefaction systems utilise
advanced vacuum cold box technology and proprietary processes to
achieve unparalleled performance and quality. In the realm of
carbon dioxide, Chart offers award-winning technologies through its
Sustainable Energy Solutions (SES) and Earthly Labs acquisitions,
capable of capturing CO2 emissions from hard-to-abate industries
and converting them into purified, liquid CO2 for reuse or
resale.
With a strong commitment to
innovation, environmental responsibility, and a global presence
spanning over 65 manufacturing locations, Chart Industries proves
to be an invaluable partner in gas processing, offering
comprehensive, efficient, and sustainable solutions tailored to
meet the evolving needs of the industry.
About the Topaz Helium Project
The Jetstream #1 appraisal well was
drilled at the Company's Topaz Helium Project in Minnesota, USA in
February 2024. The well successfully flowed helium-bearing gas to
surface, with helium concentrations in the range of 8.7 - 14.5%.
Following the successful drilling and testing of Jetstream #1, the
Company intends to maintain momentum and has accordingly signed a
new drilling contract with Capstar Drilling to deepen the well by
approximately 500m to fully penetrate the entire interpreted
helium-bearing zone. The rig is scheduled to commence drilling in
December 2024 with all necessary site improvements and permits in
place.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly
traded company listed on the AIM market of the London Stock
Exchange and the TSX Venture Exchange with the ticker PLSR, as well
as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists
of its flagship Topaz helium project in Minnesota, USA, and the
Tunu helium project in Greenland. Pulsar is the first mover in both
locations with primary helium occurrences not associated with the
production of hydrocarbons identified at each.
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301
+44 (0)2033 55 9889
Strand Hanson Limited
(Nominated & Financial Adviser
and Joint Broker)
Ritchie Balmer / Rob Patrick /
Richard Johnson
+44 (0) 207 409 3494
OAK
Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) /
Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate
Advisory)
info@OAK-securities.com
+44 203 973 3678
BlytheRay
Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a
firm incorporated in the United Kingdom and regulated by the UK
Financial Conduct Authority.
Chart Industries Investor Contact:
John Walsh
SVP, Investor & Government
Relations
770-721-8899
john.walsh@chartindustries.com
For
further information visit:
https://pulsarhelium.com
X https://x.com/pulsarhelium
LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.