Helium One Supports Galactica Ramp-Up as Colorado Processing Plant Nears Start-Up

Helium One Global Limited (LSE:HE1) has reported further progress at the Galactica-Pegasus helium project in Colorado, where it holds a 50% working interest alongside operator Blue Star Helium. The Pinon Canyon Plant is expected to commence integrated operations next week after installation of an amine unit designed to remove CO₂ from the gas stream, enabling helium to be captured and loaded into tube trailers.

Infrastructure connections are advancing in parallel. The State-9 and State-16 wells have now been tied into the gathering network, while construction work is under way to link the Jackson-2 well. Provision has also been made for Jackson-27 to support near-term production increases. The operator plans a phased ramp-up through 2026, incorporating additional well tie-ins and infill drilling to expand processing throughput and drive revenue growth.

Commercial preparations are also progressing. Spot helium sales agreements are already in place, and negotiations are ongoing for longer-term offtake contracts covering both helium and CO₂ output. The synchronised build-out of production facilities and marketing arrangements strengthens Helium One’s ambition to become a meaningful supplier in the structurally tight global helium market, complementing development work at its Rukwa project in Tanzania.

Despite operational milestones, the company’s broader outlook remains constrained by limited current revenue, continued losses and ongoing cash burn. However, the approach of first gas and near-term sales provides a positive catalyst, supported by constructive technical share price trends. Valuation metrics remain challenged due to negative earnings and the absence of dividend income.

More about Helium One Global Limited

Helium One Global Limited is a helium-focused exploration and development company with projects in Tanzania and the United States. Its flagship southern Rukwa Project in Tanzania has moved into appraisal and development following a successful 2023/24 drilling campaign. The company’s 50% stake in the Galactica-Pegasus project in Colorado provides additional exposure to helium and CO₂ production within a supply-constrained global market.