Helium Evolution

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

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

• Helium exploration
• Helium production
• Natural gas processing
• Resource development
• Mineral rights

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. 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

Core 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

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• North American Helium (NAH)coreStrategic or Co-development Partner · 19 January 2026Strategic 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

Direct 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

• Xtwitter.com/HeliumEvolution
• LinkedInlinkedin.com/company/helium-evolution

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Helium Evolution