South African startup Renergen bought land near Virginia for $1, expecting natural gas for mining. Surprisingly, they found high concentrations of helium worth billions.
With 7 billion cubic feet valued at $4-12 billion, Renergen plans to start helium production soon. The unique high helium concentration makes it eco-friendly and cost-effective.
Renergen’s gas project, designated a strategic project by the South African government, aims to contribute 6-8% of the world’s helium supply by 2027.
Despite recent stock challenges, CEO Stefano Marani remains confident, emphasizing the helium discovery as a crucial step.
This information is sourced from CNN.
https://edition.cnn.com/2024/01/04/africa/renergen-helium-south-africa-spc-intl/index.html