Domestic natural gas and helium producer Renergen has inked its first helium sales agreement with a global tier-one automotive supplier in what is the company’s first direct-to-customer helium deal.
For reasons of confidentiality, Renergen says that it is unable to disclose who the customer is or other details of the sales agreement.
The landmark transaction will see a substantial volume of helium from Phase 2 of the company’s Virginia gas project being directly supplied to the customer through the agreement and is now one of the key agreements underpinning the Phase 2 development.
CEO Stefano Marani says the contract “shows the viability of accessing helium directly from the refinery by customers and Renergen diversifying its customer base beyond wholesalers”.
“What really excites the team about this sales agreement is that, from 2024, if you purchase a German premium brand vehicle, the overwhelming probability is that Renergen’s helium will be powering the airbags keeping you safe,” he comments.