Helium Evolution
- Company typePublic
- Founded2020
- HeadquartersCalgary, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
Helium Evolution firmographics
Firmographics- Name
- Helium Evolution
- Legal name
- Helium Evolution Incorporated
- Website
- https://heliumevolution.ca
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Helium Evolution industry classification
Industry- Product category
- Helium Exploration and Production
- NAICS
- Industrial Gas Manufacturing (32512)
- SIC
- Oil & Gas Field Exploration Services (1382)
- akta.pro primary industry
- Helium & Rare Gases (Neon/Krypton/Xenon) (IMAEACAD)
Keywords
Where Helium Evolution is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Helium Evolution business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Helium Sales: HEVI generates revenue from the commercial sale of helium produced at the Soda Lake Facility, in which it holds a 20% working interest. The facility processes raw gas from three tied-in wells and produces at designed capacity of 12 mmscf/d. First commercial sales were achieved in October 2025.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Helium Evolution product offering
Product offeringCore offering
Helium Evolution is a Canadian helium exploration and production company that holds the largest helium land rights position in North America among publicly traded companies, with over 5 million acres of land permits in Southern Saskatchewan. The company drills directly for helium (not as a by-product of natural gas) and operates the Soda Lake Helium Processing Facility at a 20% working interest (12 mmscf/d capacity) in partnership with North American Helium. First commercial helium sales to industrial off-takers were achieved in October 2025.
Product overview
Helium Evolution is a Canadian helium exploration and production company operating as a single integrated business focused on southern Saskatchewan. The company's primary offering is helium gas production, supported by a network of exploration and development project areas including Mankota (with the Soda Lake Processing Facility at 20% working interest), Glenbain (100% owned), Fox/Hatton, and Fox/Abbey. The company has transitioned from exploration to commercial production with first helium sales in October 2025, and maintains strategic partnerships with North American Helium (NAH) for operations and ENEOS Xplora for investment.
Differentiator
Problem solved
Functional benefit
Products and services
- Soda Lake Helium Processing Facility A 12 mmscf/d raw gas helium processing facility located at 1-2-4-9W3 in the Mankota area of Saskatchewan, operated collaboratively with North American Helium, with Helium Evolution holding a 20% working interest. The facility processes raw gas from three tied-in wells connected via a pipeline gathering system and produced at designed capacity upon startup, enabling first commercial helium sales to industrial off-takers in October 2025.
- Helium Exploration and Production Services Integrated helium exploration, drilling, and production services across over 5 million acres of helium land permits in Southern Saskatchewan, including seismic targeting (2D and 3D), drilling, and joint development with North American Helium through pooled lands and working-interest arrangements.
- Mankota Development Area Primary development area adjacent to North American Helium's producing Mankota pool, where 10 wells have been drilled yielding six helium discoveries. Includes the Soda Lake Facility (20% HEVI WI) and a 170 km² 3D seismic program completed in early 2026. Working interest: 49% HEVI / 51% NAH in pooled lands (NAH operated).
- Glenbain Exploration Area 100% HEVI-owned lands where internal interpretation suggests multiple targets with characteristics similar to NAH's Cadillac producing pool. A 60 km 2D seismic program was completed in December 2025 to support target identification.
- Fox/Hatton Exploration Area Exploration area where 11-13 wells were drilled in Q3 2023, including a true wildcat well — the first drilled in the area in approximately 70 years — featuring a thick Basal sandstone of 58 meters.
- Fox/Abbey Exploration Area Exploration area becoming increasingly prospective given recent wells on neighboring land, with helium content up to 2% and numerous potential targets based on historical Sawatsky anomalies.
Quantifiable outcome
- Land carrying costs reduced by more than 90% under new Saskatchewan tenure framework
- +3 more outcomes
Companies that use Helium Evolution
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Helium Evolution technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Helium Evolution partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- North American Helium (NAH)coreStrategic partnership with North American Helium, Canada's largest helium producer. Joint development of Mankota/Grasslands area including pooling agreement (~40,000 acres at 49% HEVI/51% NAH working interest, NAH operated). Collaboration on Soda Lake Facility (20% HEVI working interest) and joint drilling campaigns. HEVI leverages NAH's operational expertise and established infrastructure. First joint helium discovery confirmed Q4 2023 with five additional discoveries by 2025.
Scale indicators10 records
Recent moves8 records
Expansion highlights6 records
Helium Evolution competitors and assessment
Company assessmentDirect peers
- Imperial Helium: Canadian helium exploration company that previously operated in southern Saskatchewan before restructuring. Comparable as a small public helium pure-play in the same basin.
- North American Helium: Canada's largest helium producer and HEVI's primary operating partner (operates Soda Lake Facility and pooled Mankota/Grasslands lands at 51% WI). Direct peer because both target the same Southern Saskatchewan helium play with similar geology and customers.
- Global Helium Corp: Canadian helium exploration company with assets in Saskatchewan and Montana targeting the same helium-rich formations. Comparable as a small-cap pure-play helium peer.
- Desert Mountain Energy: Canadian-listed (also OTC) helium exploration and production company operating in Arizona and New Mexico. Comparable as a small public helium pure-play focused on direct helium drilling rather than natural gas by-product.
- Avanti Helium: Canadian helium exploration company focused on the Greater Knappen area of southern Saskatchewan/Montana. Closely comparable as a small public helium explorer in the same regional basin.
- Royal Helium: Canadian publicly listed helium exploration and production company with operations in Saskatchewan and Alberta. Closely comparable as a small-cap helium pure-play targeting the same Western Canadian Sedimentary Basin.
- First Helium: Canadian helium exploration company with assets in Alberta targeting the same WCSB helium geology. Comparable small-cap pure-play helium peer.
Broad incumbents
- Air Liquide: Global industrial gas major with significant helium production and worldwide distribution. Comparable as a major incumbent competing for industrial, healthcare, and technology helium off-take contracts.
- Linde plc: Global industrial gas major and one of the world's largest helium producers and distributors. Comparable as a major industrial gas incumbent whose helium business competes for the same off-taker customers HEVI supplies.
Emerging players
- Pulse Oil Corp: Canadian junior energy company that has pursued helium exposure alongside legacy oil and gas assets in Alberta. Partially comparable as a small-cap Canadian energy company with helium ambitions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Helium Evolution social profiles
Digital presenceHelium Evolution compliance and trust
Trust signalCompliance2 records
Helium Evolution financial estimates
Financial estimateRevenue estimate
Valuation estimate
Helium Evolution leadership team
Management profileNumber of profiles
Profiles10 records
Helium Evolution funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Helium Evolution M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Helium Evolution
What does Helium Evolution do?
Helium Evolution is a Canadian helium exploration and production company that holds the largest helium land rights position in North America among publicly traded companies, with over 5 million acres of land permits in Southern Saskatchewan. The company drills directly for helium (not as a by-product of natural gas) and operates the Soda Lake Helium Processing Facility at a 20% working interest (12 mmscf/d capacity) in partnership with North American Helium. First commercial helium sales to industrial off-takers were achieved in October 2025.
Is Helium Evolution a public or private company?
Helium Evolution is a public company. It is classified as public and is currently operating.
When was Helium Evolution founded?
Helium Evolution was founded in 2020. It employs 1 to 10 people.
Where is Helium Evolution based?
Helium Evolution is headquartered in Calgary, Canada, in the North America region.
How does Helium Evolution make money?
One revenue line is on record: helium Sales.
Who are Helium Evolution's main competitors?
Direct peers on record are Imperial Helium, North American Helium, Global Helium Corp, Desert Mountain Energy, Avanti Helium, Royal Helium and First Helium. Broad incumbents are Air Liquide and Linde plc. Pulse Oil Corp is listed as an emerging player.
Does Helium Evolution have an API?
No public API is recorded for Helium Evolution.
What industry is Helium Evolution in?
Helium Evolution's product category is Helium Exploration and Production. Its primary akta.pro industry code is IMAEACAD, Helium & Rare Gases (Neon/Krypton/Xenon). Its NAICS code is 32512 and its SIC code is 1382.