The Cost of Helium-3: Earth Sources vs. the Moon

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14 hours ago

June 17, 2026

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Cody Good

Graphics & Design

Athul Alexander

This chart compares the cost of Helium-3 from Earth-based sources, tritium decay (low scalability, low accessibility) and Pulsar Helium (moderate scalability and accessibility) versus the Moon (high scalability, but low accessibility). Lunar regolith has significantly higher costs than Earth-based sources.

CTA image encouraging readers to continue the Helium-3 Series and explore the key signals behind Pulsar Helium’s Earth-based He-3 opportunity.

The Cost of Helium-3: Earth Sources vs. the Moon

Key Takeaways

Earth-based sources of Helium-3 are currently far easier and cheaper to access than surface of the moon and its lunar regolith.
Lunar He-3 may offer larger theoretical scale, but mining, extraction, and return logistics remain major barriers.

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 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.

He‑3 Source	Cost per kg to Extract	Scalability	Accessibility
Tritium Decay (Earth) – Market	~$18.7M	Low	Moderate
Tritium Decay (Earth) – Unsubsidised	$60–100M	Low	Low
Pulsar Helium (Earth)	$5–16M	Moderate	Moderate
Lunar Regolith (Moon)	$20–100M	High (theoretical)	Very Low

Source: Pulsar Helium; CRS R41419 (Shea & Morgan, 2010); Niechciał et al., Energies (2020); Thunder Said Energy; NASA OIG; CLPS contract data; USGS Keszthelyi et al. (2023); Smith‑Vaniz et al. (2026); Interlune..

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.