When it comes to Helium-3, the biggest cost divide is between Earth and the Moon. Potential sources range from tritium decay and terrestrial helium wells on Earth to lunar regolith on the Moon. Today, Earth-based sources remain far easier and cheaper to access.
This graphic, created by Visual Capitalist's Cody Good in partnership with Pulsar Helium, compares major potential sources of Helium-3 by cost, scalability, and accessibility. It’s part three of four in the Helium 3: From Theory to Opportunity series, delivering key He-3 insights for investors tracking deep tech, critical minerals, and advanced computing.
The Extraction Cost of Helium-3
Looking at cost alone, Earth-based sources currently have a major advantage over Moon-based He-3.
Values reflect order-of-magnitude estimates from market pricing (tritium), thermodynamic separation floors (Pulsar), and CLPS-based transport floors (lunar), using simplified assumptions for grade, throughput, and infrastructure.
Tritium decay is an existing Earth-based source, tied to nuclear weapons stockpiles. The tritium used in warheads decays into He-3 and is recovered during processing; however, supply is limited by nuclear stockpiles and government control.
Lunar regolith refers to the Moon’s surface material, where He-3 is believed to have accumulated from solar wind particles over time. Extracting He-3 would involve mining the Moon’s surface material, processing it to release gases, separating the He-3, and then returning it to Earth.
Pulsar sits between these two extremes by accessing Earth-based helium deposits using similar drilling technology as used for natural gas wells. The cost estimate is based only on the theoretical energy needed to separate He-3 from a gas stream, and excludes capex, labour, and other operating costs.
Comparing Source Scalability
Cost is only one part of the He-3 supply story. Each source also has a very different path to scale.
- Tritium Decay: Low scalability, because supply is capped by nuclear stockpiles.
- Pulsar Helium: Moderate scalability, with the potential to scale through terrestrial wells.
- Lunar Regolith: High theoretical scalability, based on a large inferred resource on the Moon.
For tritium, without government subsidies, the price grows significantly further reducing scalability and accessibility.
How Easy is Helium-3 to Access?
Accessibility is the other major difference between Earth and lunar sources.
- Tritium Decay: Moderate accessibility through existing infrastructure, but largely government-controlled.
- Pulsar Helium: Moderate accessibility, with earth-based sourcing.
- Lunar Regolith: Very low accessibility, with no current mining or return logistics.
Lunar He-3 may become more competitive over time, but for now, the only sources available are Earth-based.
Helium 3: From Theory to Opportunity
The rising demand for He-3 is putting new pressure on supply. Though lunar mining may one day become part of the long-term story, the near-term opportunity is much closer to home.
For investors, the key question is not just how much He-3 exists, but how realistically it can be produced and delivered. Scalability and accessibility shape how quickly a resource can move from concept to market.