Rift Helium has revealed it is in the final stages of an application for admission to the London Stock Exchange’s AIM market from mid-April.

The primary helium exploration company is set to raise approximately £8m in fundraising, with net proceeds being used to strengthen its balance sheet.

Helium Rift stated that helium is essential to a range of high-value applications, including semiconductors, medical imaging, scientific research, defence and aerospace, with global demand is projected to grow at between 5% and 7% CAGR through to 2030 against constrained supply.

The firm said it offers investors exposure to a exploration opportunity in the Rukwa Basin in Tanzania, where adjacent exploration and drilling success has helped validate a working helium system and materially reduce basin risk.

Helium Rift also believes it is well positioned to apply lessons from earlier basin entrants to pursue a "more target, capital-efficient and lower-risk exploration strategy".

Chief executive officer at Rift Helium, Charlie FitzRoy, said that the firm is entering the market at a time when helium has become "more strategically important than ever".

He added: "Recent disruption to Qatar's natural gas supply has highlighted how concentrated and vulnerable global helium supply can be, reinforcing the need for new primary helium sources.

"We believe Rift offers investors direct exposure to helium exploration upside in the Rukwa Basin, a basin that is now proven to host a working helium system. Our strategic position, alongside adjacent discoveries, combined with our third-mover advantage, allows us to pursue a smarter, more targeted and capital-efficient exploration strategy."

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