Helium is shaping up to be an immensely valuable resource and one Company is sitting on what could be a top global reserve. The global helium supply is currently very concentrated with the US and Qatar alone currently accounting for roughly 75% of what is left of the world’s supply.
Critical to innovation in science and technology, analysts forecast the global market to rise above $8.2 billion (USD) in three years’ time, but that number could be even higher, given a recent report by The Business Research Company detailed a number of high-tech uses for it. Some of these uses are brand new, such as applications ranging from being used as an alternative method to store COVID-19 vaccines without a power supply.
The growing number of COVID-19 cases across the globe coupled with an increasing number of vaccines or drugs to curb the virus, has generated
an urgent requirement for cold-chain freezers to store COVID-19 vaccines. Helium is used for storing COVID-19 vaccines at ultra-cold temperatures. Helium can convectively remove heat faster than any other molecular compound and this thermal conductivity makes for a uniquely powerful heat absorber.
This critical, irreplaceable element is essential to many sectors and is a vital resource, essential in modern technologies with major critical uses throughout the science, medicine, and manufacturing industries. In many cases it cannot be synthesized or substituted. Unlike burning fossil fuels, there is no direct carbon footprint associated with the use of helium.
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