REG - Pulsar Helium Inc. - Pulsar Signs Agreement with Chart Industries

Pulsar HeliumAnnouncement

20/11/2024 07:00

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RNS Number : 8697M  Pulsar Helium Inc.  20 November 2024

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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 (mailto: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 (mailto:info@OAK-securities.com)

+44 203 973 3678

BlytheRay Ltd

(Financial PR)

Megan Ray / Said Izagaren

+44 207 138 3204
 

pulsarhelium@blytheray.com (mailto: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 (mailto:john.walsh@chartindustries.com)

For further information visit:

https://pulsarhelium.com (https://pulsarhelium.com)

X https://x.com/pulsarhelium (https://x.com/pulsarhelium)

LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc
(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.

 

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