All Articles
Climate Tech

The Canadian Government Is Funding Helium Exploration

February 5, 2024
x min read

The Canadian government is putting cash into a publicly traded helium company. But, why?

What’s happening:

  • Royal Helium (TSXV: RHC) has received $3M CAD in funding from the government of Canada
  • The new funding comes from Prairies Economic Development Canada through their Aerospace Regional Recovery Initiative

By the numbers:

  • Royal Helium has 1,000,000 acres of land and leases in Saskatchewan for helium exploration and production
  • To date, Royal Helium has begun drilling at 10 of their different wells

Why it matters:

  • The new funding comes after the Canadian government previously identified helium as a critical mineral

Going deeper:

  • Helium’s primary use historically has been in healthcare, but that has recently been changing due to its need for semiconductor manufacturing, microchip manufacturing and aerospace technologies
  • Aerospace companies need helium for both the production of rockets and supporting launches into orbit
  • Royal Helium has a long term offtake deal with a North American space launch company to provide them with purified helium supply

The intrigue:

  • Royal Helium actively earns carbon credits from their operations at their Steveville helium plant based in Alberta

Discover what’s next. The world’s biggest ideas, disruptive trends, most exciting early stage companies and groundbreaking entrepreneurs.

By clicking Subscribe you're confirming that you agree with our Privacy Policy.
Thanks for subscribing!
Keep an eye out for a welcome email shortly.
Oops! Something went wrong while submitting the form.