Pulsar Helium announced it plans to build a $85.5 million rare gas hub in Lake County.
The helium purification and liquefaction plant will have capacity of 861 liters per hour, equivalent to approximately 7.5 million liters of liquid helium annually. The plant will also have a 300-tonne-per-day CO2 capture capacity.
“Signing and accepting Baker Hughes’ Proposal is a major milestone for Pulsar and an important step in advancing our proposed Rare Gas Hub. The planned Plant has a nameplate capacity of approximately 7.5 million litres of liquid helium and over 100,000 tons of liquid CO2 annually, supporting our strategy to develop an industrial scale rare-gas processing infrastructure in Minnesota,” said Pulsar CEO Thomas Abraham- James.
Equipment manufacturing is scheduled to take place over an approximate two-year period following receipt of an $8.5 million payment in January. The company will pay $5 million with the signing of the agreement with Baker Hughes, which purchased Chart. Pulsar announced it has cash resources of $25.2 million.
