Helium and natural hydrogen are attracting increased exploration activity as companies seek new sources of supply for industrial and energy markets.
Helium has traditionally been recovered as a by-product of natural gas production, but new projects are targeting dedicated deposits. Natural hydrogen is also emerging as an exploration opportunity, although commercial production remains at an early stage.
Global helium production reached an estimated 190 million cubic metres in 2025. The United States produced approximately 81 million cubic metres, while Qatar accounted for 63 million cubic metres. Together, they represented around three-quarters of global output.
The US Department of Energy designated helium a critical material in October 2026, recognising its importance to semiconductor manufacturing and supply-chain security. However, increasing production will require further investment in extraction and processing capacity.
Helium is used in semiconductor manufacturing, MRI scanners, aerospace, scientific research and cryogenic applications, making reliable supplies important to several industries.
Natural hydrogen offers a different opportunity, with exploration companies investigating underground deposits that could potentially be extracted directly rather than manufactured through industrial processes.
The wider hydrogen market remains dominated by conventional production. Global demand exceeded 100 million tonnes in 2025, while low-emissions production accounted for less than 1% of the total. Installed electrolysis capacity more than doubled to exceed 4 GW.
Thor Energy PLC (LON:THR) is a leading exploration company focused on natural hydrogen and helium, with a significant footprint in the highly prospective South Australian region.
