Helium's History
During World War 1, the U.S. military built three helium plants to supply airships used in the war. In 1925 the US established the National Helium Reserve in Amarillo, Texas to maintain a strategic supply. As helium’s use in airships plummeted, other uses were starting to grow but the reserve filled.
1995 US Congress decides the National Helium Reserve was no longer essential and passed the Helium Privatisations Act in 1996. For 20 years Congress allowed the sales of helium from the reserve at a substantial discount to free market prices. Up to 50% of the world's demand was met with sales from the Reserve.
Helium exploration and development went dormant as the Reserve provided the required resources. As of today, the reserve is essentially depleted with remaining supplies dedicated to Federal users only.
Production in the U.S. is projected to decline further over the next decade and Canada is well-positioned to meet the anticipated shortfall in helium supply.
First Helium’s project at Worsley is forecasted to provide stable production and cash flow between 2023-2030, establishing the Company as a reliable North American helium producer.