In March 2017, Solo acquired a 10% interest in Helium One Limited (Helium One) for a total consideration of £2.55 million in cash and shares. Subsequently Solo assisted Helium One through a Technical Services Agreement which allowed Solo to increase its holding to 15%. In mid-2018 Helium One raised US$2 million in pre-drill funding with Solo’s holding now approximately 13.8%.
- Early entry into the global helium market estimated to be worth over US$6 billion annually
Helium One is an independent specialist explorer focussed on delineating and developing globally significant helium assets in Tanzania, Solo Oil PLC (LON:SOLO) has a 15% equity in the company.