Royal Helium has received $3 million from the Government of Canada through Prairies Economic Development Canada (PrairiesCan) under the Aerospace Regional Recovery Initiative (ARRI) to equip and enhance the Steveville helium processing facility.
It was launched in 2021 to help Canada's aerospace sector emerge from the pandemic with the ability to compete globally. Specifically, the organization focuses on his three main goals:
- Implement green operations and adopt environmentally sustainable practices
- to improve productivity
- Strengthen commercialization while increasing integration into regional and global supply chains
Royal Helium CEO Andrew Davidson said the company had been working with PrairiesCan on the funding program for almost a year and was delighted to be approved to receive support.
This funding approval is tied directly to an offtake agreement signed with North America's leading space launch company and is the result of months of work with experts from Royal Helium and PrairieScan.
read more: Royal Helium signs contract with major space launch company
Mr. Davidson continued, “By raising interest-free, zero-capital funding that can be used to develop other properties, we are much closer to installing additional production capacity.”
Repayment of donations begins on the 1stcent Amortized in April 2025 in 60 equal monthly interest-free payments.
Royal Helium operates a Steveville plant in Alberta, Canada. The plant will process 15 million cubic feet per day of raw gas fed from two wholly owned helium wells also located in Steveville, producing 220 million cubic feet per day of 99.999% helium. It is designed to.
In addition to helium, the plant will also produce enough gas to power power plants and up to 22 million pounds of commercial carbon dioxide (CO2), providing secondary cash flow.
read more: Royal Helium begins selling commercial helium in Steveville
helium super summit
participate gasThe Helium Super Summit will be held in Houston in October 2024. Further information, including theme and agenda, will be published in the coming weeks. Register your interest to stay informed.
The Helium Super Summit 2023 agenda focused on the most important challenges facing the helium business in 2023/24 and the uncertainties confronting the market and its range of end users. The 2023 Summit has over 400 participants and is sold out, so we encourage you to reserve your space. You can reserve tickets or register your interest at https://bit.ly/gasworldconferences.
Interested in speaking or contributing? Please contact our Content Director, Rob Cockerill. [email protected]