The dual-listed gas explorer says it wants debt and public-sector money, not fresh equity, to fund its Rare Gas Hub after locking in equipment pricing with a Baker Hughes subsidiary.
Pulsar Helium Inc. (AIM: PLSR) has set out how it intends to pay for the commercial-scale helium and carbon dioxide plant at the heart of its proposed Rare Gas Hub in Minnesota, after accepting a binding US$85.5 million equipment-supply proposal from Chart Energy & Chemicals, a Baker Hughes subsidiary, on 1 October 2026.
Rather than turning to shareholders, the company says its preferred route is project-level debt and public-sector support, topped up with existing cash, to cover the remaining cost of the plant beyond the equipment price already agreed with Chart.
Pulsar is in parallel talks with several potential funders: University Bank, whose parent University Bancorp is already a Pulsar shareholder; Minnesota's Department of Employment and Economic Development; USDA Rural Development's Business & Industry Guaranteed Loan Program; and the state's Iron Range Resources & Rehabilitation agency, whose Taconite Assistance Area covers the prospective site. None of these discussions has yet produced a binding commitment.
Chief executive Thomas Abraham-James said the company is 'progressing multiple financing channels in parallel' with the explicit aim of limiting dilution for existing holders, a message likely to be well received by investors wary of a large cash call to fund the build-out.
The US$85.5 million equipment price is only part of the bill, as Pulsar itself notes it does not represent the total installed project cost. Completion of a full capital-cost estimate, selection of an EPC contractor, environmental review, permitting and lender due diligence all still need to be worked through before any financing structure, debt or equity, can be finalised.
This report is based on Pulsar Helium Inc.’s announcement and coverage by Share Talk. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full results calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Florian Olivo on Unsplash.
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