Production Contracted for Fixed-Price Offtake with Two Industrial Gas Distribution and Marketing Companies
Production at Flagship Plant Initiated in July 2023, Tapping Estimated 33 Billion Cubic Feet of Helium Reserves
HOUSTON, TX / ACCESSWIRE / August 31, 2023 / Proton Green, LLC (OTC PINK:CYRB) ("Proton Green" or the "Company"), a leading operator of one of the largest helium and beverage grade CO2 hubs in North America, today announced the first sale of helium produced from its St. Johns Field Phase I Helium Extraction Plant in Arizona.
Production at Proton Green's Phase I Helium Extraction Plant commenced in July 2023 at its St. Johns Field asset, which spans approximately 170,500 contiguous acres. The St. Johns asset is located in Apache County, Arizona, atop one of the largest helium and carbon dioxide reservoirs in North America, with an estimated 33 billion cubic feet of helium and 517 billion tons of CO2 in accessible reservoirs.
"We are exceptionally proud of our team's hard work to reach nameplate Phase I production capacity over the last several weeks, as standard ramp and risk management procedures were executed," said Steve Looper, Chief Executive Officer of Proton Green. "Shortly after beginning helium production, we executed our first sale to one of our fixed-price offtake customers, marking the first commercialization milestone for Proton Green. As we scale production several-fold in the coming quarters, we have a clear line of sight to becoming among the largest Helium producers in North America.
"We are now analyzing our production from Phase I to help optimize the completion of our Phase II infrastructure, for which we expect to begin construction in the coming months. We look forward to continued operational execution in the months ahead as we strive to deliver sustainable, long-term value to our shareholders," concluded Looper.
About Proton Green, LLC
Proton Green LLC (OTC: CYRB) is a leading operator of one of the largest Helium and beverage grade CO2 hubs in North America. The Company maintains exclusive production rights to St. Johns Field, a 170,500 acre property in Arizona with a 33 billion cubic feet helium reservoir, 517 million ton CO2 reservoir and a basin with the potential to store 1 billion metric tons of CO2. The Company is currently one of the leading producers of Helium in North America - a high-demand gas in both consumer and critical technology applications - leveraging strategic offtake partners with fixed-price agreements to drive a predictable revenue stream. Notably, both Helium and CO2 produced at St. John's Field contain no hydrocarbon component. To learn more, please visit our website at https://www.protongreen.com/.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our limited operating history; our dependence on third parties for many aspects of our business; general market and economic conditions; technical factors; the availability of outside capital; our receipt of revenues; legislative developments; changes in our expenditures and other uses of cash; our ability to find, recruit and retain personnel in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Registration Statement filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Media & Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ Group - MZ North America
(949) 259-4987
PGRN@mzgroup.us
www.mzgroup.us
SOURCE: Proton Green, LLC
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