By Adriano Marchese
Avanti Helium said Wednesday it has secured a long-term lease for a plot of land in Montana which will house its helium recovery plant.
The company said it has secured 40 acres of land in Liberty County which is expected to be the site of its new helium recovery unit.
The plant will process raw gas from nearby wells.
Avanti said it has signed a 25-year lease with the option to renew, as well as pipeline easements from the wells to the site.
The company expects to move forward with the development of the plant in the coming weeks and aims to have it constructed and on-stream in the fourth quarter of this year.
Write to Adriano Marchese at adriano.marchese@wsj.com