Strategic U.S. Helium Reserve

Strategic U.S. helium,
institutional scale.

Arizona Reserve · Proven Geology · Modular Liquefaction · Institutional Governance

5.2 Bcf
In-Situ Helium Reserves
100
Well Sites Mapped
$805M
Aggregate Capital ($250M P1 + $555M P2)
Review Data Room

Innov8 Resources, Inc. · Delaware C-Corp · Operated by Helium Hydrogen Holdings • Galileo Capital Advisors SA • Bitkove Management • Covault Management · KYC/AML: Galileo Capital Advisors SA (SO-FIT SRO, Switzerland) · Audit: Marcum LLP

Overview

Executive Summary

A shovel-ready, U.S.-based helium and multi-gas project with verified reserves, serious offtake interest, embedded liquefaction, and an institutional-grade governance framework.

  • 5.2 Bcf validated in-situ helium reserves (on ~4K of 37K project acres)
  • 6.12% helium concentration (premium global grade)
  • 3 wells drilled confirming geological model
  • 5 permit-ready; 100 total well sites mapped
  • Access roads complete; vendors staged
  • Zero exploration risk — purely development execution
  • 20+ year modeled field life
  • Embedded modular liquefaction from day one
$805M
Aggregate Capital ($250M P1 + $555M P2)
8.0%
LP Preferred Return
20+ yr
Field Life

Structure: Innov8 Resources, Inc. is a Delaware C-Corp — not an investment fund, managed account, or investment company. LP interests are direct working interest participations in an operating venture. INNOV8 Gases Corporation (Texas) holds the underlying mineral leases and working interests.

Market Context

Why Helium Matters

Helium is a non-substitutable input for advanced industries. It cannot be manufactured — only extracted.

Critical Applications

Semiconductors Rocket Pressurization Satellite Deployment Quantum Computing MRI Cryogenics Fiber Optics Nuclear & Aerospace R&D

Product Portfolio

Liquid Helium Liquid Hydrogen Food-Grade CO₂ Nitrogen Argon Neon LNG

Global Supply Constraints

  • Federal Helium Reserve depleted
  • Amur (Russia) outages
  • Qatar geopolitical risk
  • China stockpiling reserves

U.S. on-shoring in semiconductors, defense, and aerospace creates structural domestic demand.
INNOV8 provides a strategic, reliable U.S. supply base across multiple refined pure-product lines.

Asset Profile

Arizona Multi-Gas Reserve.

Confirmed reserves across four formations. Geology, mud logs, and in-ground testing complete — zero exploration risk.

Confirmed Formations

FormationCountyResources
Pinta DomeApacheHe + associated gas
Concho Dome / Amos WashApacheHe + associated gas
WoodruffNavajoHe + H₂ + gas
Puerco RidgeApache / NavajoHe + associated gas

Development Readiness

  • 5 permit-ready; 100 mapped sites
  • Access roads + power routing prepared
  • Vendors queued for equipment
  • $27M sunk capital already deployed
  • 20+ year production horizon
He

Concentration 6.12%

Permian Basin Avg: <1%

5.2 Bcf validated in-situ helium reserves — on ~4K of 37K project acres.
A development-ready asset, not exploration.

Commercial Validation

Commercial Demand Validated.

$550 / Mcf gas spot  ·  $1,250–$2,000 / Mcf liquid spot

Validated market pricing for helium. EU spot prices have risen 50%+ amid a global supply shock.

Innov8 bear case uses $400 / Mcf. Base case assumes $1,150 / Mcf (current liquid He spot).

Serious offtake interest from industrial buyers prepared to take produced volumes. Offtake agreements execute at first production — not before — preserving margin discipline. Global helium supply tightness creates a strong tailwind for first-production economics.

Interested Counterparties

U.S.-based industrial gas distributors

Tenor (at execution)

Multi-year structured agreements

Pipeline

DoD-linked conversations for long-term sourcing

Semiconductors Aerospace Medical Defense
Unit Economics

Well Economics & Production Model

Capex Per 5-Well Pad
$65–70M

All-in per 5-well pad: drilling & completions, separation pipelines, liquefaction modules, shared plant share.

Multi-Gas Revenue / Well
~$16.1M/yr

All gases gross. He: $400/Mcf bear case (Galileo model anchor; gas spot ~$550/Mcf, liquid He spot today ~$1,150/Mcf = Innov8 base case, $2,000/Mcf best case) · H₂: $12,000/MT · CO₂/N₂/Ar/Ne included.

Payback Period
30–42 mo

Base-case payback per well. Ops cost ≈ 15% of gross.

Multi-Gas Uplift

+35–55% additional cash flow from hydrogen, argon, neon, CO₂, nitrogen, and LNG. Substantial upside but not required for DSCR or underwriting.

+35–55% uplift

Revenue Mix — Diversified, Not Dependent

3 demand engines

Helium anchors the asset, but it’s roughly half the revenue stack. Hydrogen and food-grade CO₂ + balance gases carry the rest — meaning underwriting doesn’t hinge on a single commodity cycle.

~50% Helium

Premium-grade liquid — semi, aerospace, medical, quantum offtake.

~25% Hydrogen

Industrial demand today + emerging energy & transport transition.

~25% CO₂ + Balance

Food-grade CO₂, nitrogen, argon, neon, LNG — established industrial markets.

Production

Embedded Liquefaction Advantage

Liquefaction built into day-one capex. Margin expansion without new capital phases.

3–4 month fabrication

Raw gas sales for 1–2 months

Shift to liquid helium (premium grade)

Premium pricing → preferred buyers (fabs, aerospace, medical, quantum)

Scale

Project Longevity & Scale

A long-duration infrastructure-grade asset.

Well Sites Identified 100
Modeled Field Life 20+ yr
Exploration Risk Zero
  • Modular expansion reduces execution risk
  • High DSCR scalability
  • Refinancing optionality (liquidity & distributions)
Structural Cost Advantage

Embedded Power — The Moat Behind the Moat

Industry-wide, electricity represents 80–85% of the total cost of hydrogen production. Innov8’s advanced refining and liquefaction plants self-produce their own electricity from gas-stream byproducts and adjacent infrastructure — eliminating the dominant cost variable competitors face.

As global demand shifts toward hydrogen energy and hydrogen-powered transport, internally-generated power converts a commodity cost line into a durable margin advantage. Competitors paying grid rates cannot match unit economics at scale.

Capital Structure

Capital Plan — $805M Aggregate Program (115 Wells)

Program 1 — Initial 15-Well Helium Series 1-E / 1-D / SK

First ring-fenced program. Early production within 12 months of Capital Close. Separately financeable.

Program 2 — 100-Well Expansion Series 2-E / 2-D

Full-scale 100-site build-out. Ring-fenced — no cross-claim or cross-default with Program 1.


Use of Proceeds (Indicative)

Drilling & completions60–70%
Refinery & liquefaction modules20–25%
Infrastructure (roads, power, tie-ins)5–10%
Contingency reserve~5%

Development Roadmap

Month 0–6

Wells drilled + completed. Refinery units fabricated.

Months 6–12

Liquefaction modules online. Transition to liquid helium sales. Multi-gas capture begins.

Years 1–3

Scale to 20–50 wells. DSCR expansion. Buyer portfolio diversification.

Year 3+

Full 100-site build-out. Hydrogen integration. Build-refi-distribute optionality.

Summary

Deal Snapshot

Structure

  • Innov8 Resources, Inc. — Holdco (full structure detail at Governance slide)
  • Program 1 LLC: Holdco 80% / LP investors 10% / Lender equity kicker 10%
  • Program 2 LLC: Holdco 80% / LP investors 15%; Sukuk via offshore SPV (form defined in Sukuk documentation)
  • 3 tranches: Equity + Senior Secured Notes + SUKUK
  • KYC/AML: Galileo Capital Advisors SA (SO-FIT SRO, Switzerland)
  • Audit: Marcum LLP  |  Digital infrastructure: Zoniqx (BitGo custody)

LP Terms

Minimum commitment$2,500,000 (GP discretion below floor)
LP Preferred Return8.0% p.a., compounded annually (Program 2 LPs — Holdco distribution policy)
Catch-UpPhase 2 — Sponsor GPs receive 80% of non-operator 48% pool / LP receives 20% of non-operator 48% pool until Sponsor catch-up threshold met
Carried InterestNone
Management FeeNone
GP CompensationORRI on gross revenues (not AUM-based)
AuditMarcum LLP
Venture Term10 years from Final Capital Close
Offering ExemptionReg D 506(b)
Investor QualificationAccredited Investors

Economics

Drilling~$2.5M/well
Refinery & liq.~$7.8M/well
Ops cost~15% of gross
Payback~30–42 months
Field life20+ years
Multi-gas uplift+35–55%

Exit Pathways

Production Distributions Build & Hold Build-Refi-Distribute Strategic Sale

No IPO path. Exit Event requires 90%+ asset disposition. Floor Price mechanism protects LP minimum return (LP IRR ≥40% OR EV threshold — OR Logic).

Returns — Equity Tranche

Equity Returns

Bear case: $400/Mcf (Galileo model anchor). Base case: $1,150/Mcf (current liquid He spot). Best case: $2,000/Mcf + 1.2× flow. 100-well program, 84-month (7-year) horizon.

Bear Case ($400/Mcf)
63.0%

IRR — Galileo model; conservative floor

Base Case ($1,150/Mcf)
~114%

IRR — current liquid helium spot

Best Case ($2,000/Mcf + 1.2×)
~168%

IRR — upside with 1.2× flow uplift

No heroic terminal assumptions required. No management fee drag. No carried interest. LP economics further enhanced by ORRI-aligned GP compensation structure.

IRR projections are illustrative and based on financial model assumptions. Consult the pro forma for full scenario analysis. Past performance of comparable projects does not guarantee future results. Accredited Investors only.

Debt

Senior Secured Notes

7-Year Notes

  • 12% fixed coupon
  • Quarterly interest (from Year 2)
  • Balloon principal at maturity
  • First-lien on wells, modular refineries, contracted revenues
  • DSRA prefunded at closing

DSCR Coverage

ScenarioCoverage
Helium-only (5–7 wells)1.35–1.50×
Helium-only (10–12 wells)1.60–1.80×
With multi-gas uplift2.0×
Stress case (–25–30% He price)1.10–1.20×
Governance

Structure & Governance

Institutional-grade C-Corp structure:

  • Innov8 Resources, Inc.: Delaware C-Corp — Holdco (§1501 consolidated group)
  • Program 1 LLC + Program 2 LLC: Delaware LLCs (Form 8832 C-Corp elections)
  • Board: 5 Directors (3 Class A / 2 Class B), quarterly governance cadence
  • KYC/AML: Galileo Capital Advisors SA (SO-FIT SRO, Switzerland)
  • Audit: Marcum LLP
  • U.S. and international counsel engaged
  • Reg D 506(b) — Accredited Investors only, no general solicitation

Not an investment fund, managed account, or investment company. LP interests are direct working interest participations in an operating venture governed by the LP Agreement.

Digital Infrastructure

Tokenization (Plumbing-Layer)

Zoniqx provides secure, compliant digital infrastructure:

  • Transfer restrictions baked in on-chain
  • Jurisdictional lockups enforced automatically
  • Automated KYC whitelisting
  • Immutable audit trails
  • Continuous capital account dashboard

All legal rights remain in the LP Agreement and partnership documents; tokens are a ledger and transfer-restriction layer only. BitGo or equivalent qualified custodian for digital token custody.

Ownership

Cap Table & GP Economics

Fixed Cap Table

Class A · 52%
Class B Restricted · 48%
PartnerRole / ClassHoldco %
INNOV8 Gases CorpClass A Common52%
Helium Hydrogen Holdings LLCClass B Restricted12%
Galileo Capital Advisors SAClass B Restricted12%
Bitkove ManagementClass B Restricted12%
Covault ManagementClass B Restricted12%

LP participation is at the Program LLC level — not the Holdco. Program 1: Holdco 80% / LP 10% / Lender 10%. Program 2: Holdco 80% / LP 15%.

INNOV8 Gases Corp Class A reflects $27M sunk capital. Class B Restricted Stock (Sponsor GPs) vests across 9 well-production milestones — full vest at 35 aggregate wells (M9 / Full Vest Completion). ORRI fully released at M7 (15 wells / Program Completion). Not AUM-based.

GP Compensation Model

ORRI

Overriding Royalty Interest on gross production revenues — a real property interest in the Arizona formations. Survives any GP exit or removal.

5% Equity Interest

Each GP holds 5% of the Venture, earned through capital markets access and deal structuring — not capital contribution.

No carried interest. No management fee. GP economics aligned with production, not AUM. LP investors benefit from a cleaner waterfall.

Leadership

Sponsor GP Team

Gina Tallerino — Helium Hydrogen Holdings LLC

Capital markets leadership. Institutional allocator relationships and deal structuring.

Marc D. Rafael Toledano — Galileo Capital Advisors SA

Strategic origination and investor network development.

Charles Mui — Bitkove Management

Former director at a Top-3 Canadian pension-scale fund, overseeing multi-billion-dollar real asset & energy allocations.

Ely Beckman — Covault Management

Structuring, compliance, and digital infrastructure architecture.

Risk Framework

Risk & Mitigation

  • No exploration risk — 3 wells drilled, geology confirmed
  • Mud logs and in-ground testing complete
  • Modular build reduces execution risk
  • Multi-year offtake demand stabilizes revenue post-first-production
  • Multi-gas portfolio diversifies cash flow
  • DSCR robust under conservative stress (–25% He price)
  • Digital custody (BitGo) + regulatory KYC/AML
  • Floor Price covenant protects LP minimum return

Detailed risk matrices & sensitivities available in data room.

Operating Partner

INNOV8 Gases Corporation (Texas) — decades of U.S. helium, multi-gas, and hydrocarbon development across drilling, completions, and midstream construction.

Equity Term Sheet

LP Equity Interests — Series 1-E / 2-E

Innov8 Resources, Inc. · Delaware C-Corp · Reg D 506(b) · Accredited Investors

VehicleInnov8 Resources, Inc. (Delaware C-Corp) via Program LLC membership interests
SecurityProgram LLC Membership Interests — Direct Working Interest Participations
Aggregate Capital (Programs 1+2)$805,000,000 $250M Program 1 senior secured loan + $555M Program 2 stack ($125M Sukuk + $300–400M Equity + $30–130M Senior Debt) · reinvestment funds well additions to 115 total
LP PoolProgram 1: 10% | Program 2: 15% of Program LLC
Term10 years + extensions
Minimum Ticket$2,500,000 (GP discretion)
Management FeeNone
Carried InterestNone
LP Preferred Return8.0% p.a. compounded annually (Program 2 LPs only)
Catch-UpPhase 2 Sponsor Catch-Up — 80/20 within non-operator 48% (Sponsor GPs / LP), runs until cumulative Sponsor GP distributions ≥ 28% of total non-operator cumulative (Sponsor Catch-Up Threshold)
GP CompensationORRI on gross revenues

Distribution Waterfall

1. LP Preferred Return: 8.0% p.a. on unreturned LP Capital Balance (Program 2 LPs; Holdco distribution policy)

2. Return of LP Capital: 100% to LP until full capital returned

3. Sponsor Catch-Up (Phase 2): 80% Sponsor GPs / 20% LP within non-operator 48% — runs until cumulative Sponsor distributions ≥ 28% of total non-operator cumulative (Sponsor Catch-Up Threshold). LP continues to participate; LP does not go to zero.

4. Residual: Pro-rata per Program LLC membership interests (Holdco 80% / LP pool per program)

Scenario Analysis — Equity Tranche (115-Well Program)

MetricStress TestBearBaseBest Case
He Price$325/Mcf$400/Mcf$1,150/Mcf (liquid spot, today)$2,000/Mcf + 1.2× flow
Well Output1,250 Mcf/day1,250 Mcf/day1,250 Mcf/day1,500 Mcf/day (1.2× — modest vs engineer est. 2,000–4,000 Mcf/day)
LP IRR (annualized)~54%63.0%~114%*~168%*
LP MOIC (7-yr)~4.15×4.82×~12×*~23×*

Bear case is the Galileo Capital Advisors 84-month model (15 June 2026 rev): $400/Mcf He · H₂ $12,000/MT · $300M LP committed · $1.45B distributed over 84 months · monthly IRR 4.158% (annualized 63.0%) · MOIC 4.82×. 3-Phase Holdco SA §6.3 waterfall: Phase 1 (LP 38.4% of distributable until 8% pref + capital returned), Phase 2 (GP catch-up to 28%), Phase 3 (LP pro-rata 15% / Sponsor GPs 28% / Operator 52% / Holdco residual 5%). * Base ($1,150/Mcf, current liquid He spot) and best ($2,000/Mcf + 1.2× flow) IRR/MOIC are Galileo-model-scaled estimates; formal model update pending. Stress test ($325/Mcf) interpolated from Galileo data. No management fee or carry applied. Reg D 506(b) — Accredited Investors only. Consult full pro forma in data room.

LP protection: Floor Price covenant requires LP IRR ≥40% OR EV threshold (OR Logic) before any exit can be completed without LP consent.

Debt Term Sheet

Senior Secured Notes — Series 1-D / 2-D

First-Lien Energy Debt · Fixed Income · Reg D 506(b) · Accredited Investors

Coupon12% Fixed
VehicleInnov8 Resources, Inc. (Delaware C-Corp)
Term84 Months (7 Years)
Minimum Ticket$2,500,000 (GP discretion)

Investor Economics

Effective IRR12.1%
Total Return (on $250M Program 1 senior)~$460M
Net Interest~$210M

Payment Timeline

Mo 1: Funding → Mo 1–24: Interest accrues

Mo 25: Catch-up + coupon begins → Mo 25–84: Monthly coupon

Mo 84: Principal balloon

Security Package

  • First-priority lien on wells, equipment, production fixtures
  • First-priority assignment of future helium & multi-gas offtake receivables
  • Debt Service Reserve Account (DSRA) prefunded at closing
  • Springing cash dominion on collection accounts

DSCR Coverage

ScenarioCoverage
He-only (5–7 wells)1.35–1.50×
He-only (10–12 wells)1.60–1.80×
With multi-gas uplift2.0×
Stress (–25–30% He)1.10–1.20×

Fixed rate — debt economics unchanged across scenarios. Limited recourse. Secured by designated Program assets only. No GP promote participation in debt tranche. Reg D 506(b) — Accredited Investors only.

Engage with INNOV8.

$805M Aggregate Capital (Programs 1+2, 115 Wells) · LP Equity · Senior Secured Notes · SUKUK · Blended allocations available

1

NDA

2

Data Room Access

3

Geological & Technical Review

4

DSCR / IRR Model Session

5

Allocation Structuring

Request Data Room Access

A long-duration, strategic U.S. helium & multi-gas asset. Confirmed reserves. Embedded liquefaction. Institutional governance. No management fee. No carry.

Gina Tallerino  |  Marc D. Rafael Toledano  |  Charles Mui  |  Ely Beckman

avery@innov8resources.com


© 2026 INNOV8 RESOURCES, INC. All Rights Reserved. · Delaware C-Corp · Confidential — For Accredited Investors Only · Not an offering in jurisdictions where prohibited.