Overview

Selling lunar-derived oxygen and metals (iron, aluminum, titanium) to surface operations. Uses a molten regolith electrolysis (MRE) reactor that melts lunar soil at ~1,600 °C and electrolyzes the molten oxides. ~45% of lunar regolith by mass is oxygen, making the resource ubiquitous if power is available.

Moat: Only company developing a unified molten-regolith-electrolysis pathway that yields BOTH oxygen and structural metals as co-products. Heritage from MIT-NASA Molten Oxide Electrolysis research dating to 2009.

Business

Primary customers

Government: NASA / Artemis surface operations
Commercial: Future commercial lunar settlements

Sectors

In-Situ Resource Utilization · Lunar economy · Space metallurgy

Gallery

Concept render of a lunar base with an 'Oxygen Depot' storage tank, rover and habitat dome — Helios's molten-regolith electrolysis would extract oxygen (about 42% of regolith mass) on the Moon. — Image: Helios's lunar 'Oxygen Depot' ISRU concept (render) — Helios

Aerial photograph of a dragline excavator working an iron-ore open-pit mine — the feedstock for Helios's terrestrial low-carbon green-iron process, now its primary near-term business. — Image: Helios's terrestrial green-iron business — its near-term revenue engine — Helios

Lunar-surface infrastructure concept art from Helios's selection for DARPA's 10-Year Lunar Architecture (LunA-10) study. — Image: Helios was selected for DARPA's LunA-10 lunar-architecture study — Helios

Key Products

Lunar oxygen + metals reactordevelopment
Modular MRE reactor system designed for delivery via CLPS-class landers. Produces oxygen (propellant + life support) plus iron/aluminum/titanium alloys for surface fabrication.

Investor Resources

Primary-source documents — straight from Helios's investor relations and SEC filings.

Investor Presentations

Near-term Catalysts

2026-2027
First ground-based pilot reactor demonstration
Validates lab-scale MRE chemistry under simulated lunar conditions.
2027-2028
CLPS payload manifest selection
First flight opportunity for a Helios reactor demonstrator.

Top Risks

ISRU economics are unproven — return on launched-mass requires sustained surface presence that doesn't yet exist.
1,600 °C operating temperature requires nuclear-grade surface power that NASA's Fission Surface Power project hasn't yet flown.
No CLPS task order win yet; pre-revenue.

Recent Milestones

2021-08
Announced partnership with ispace to fly Helios oxygen reactor on lunar lander
2024
Continued ground demonstration of molten regolith electrolysis chamber
2025
Eta Space (US) partnership for oxygen storage technology

From Management

Recent interviews and talks from Helios's leadership — hear the strategy in their own words.

Jonathan Geifman · Co-founder & CEO'If we want to secure the future of Earth, we need to expand into space'BBVA · 2023 Jonathan Geifman · Co-founder & CEOCo-founder & CEO of Helios (podcast)20MinuteLeaders · 2024

What investors should know

Q1What's molten regolith electrolysis?⌄

A process that melts lunar regolith at ~1,600 °C and uses electrical current through the molten material to split the metal-oxide bonds. Oxygen evolves at the anode; metals (iron, aluminum, titanium, silicon) deposit at the cathode. The chemistry was researched at MIT for NASA over a decade ago; Helios is one of the few companies productizing it for lunar surface deployment.

Q2Why does this matter for the lunar economy?⌄

About 45% of lunar regolith by mass is oxygen, locked into oxides. A working MRE plant would let surface operations produce propellant (LOX) and life support locally instead of shipping it from Earth at ~$1M/kg. The metal co-products enable in-situ fabrication of habitat shells, landing pads, and replacement parts.

Q3What's the realistic timeline?⌄

A flight demonstration is unlikely before 2028, and full operational use depends on surface power infrastructure (NASA's Fission Surface Power Phase 2 reactor, targeted for early 2030s). Helios is a long-horizon bet on lunar ISRU.

Q4Is Helios publicly traded?⌄

No. Helios is a privately held Israeli company. There has been no announced IPO timeline.

Q5What's the regulatory framework for selling lunar resources?⌄

Israel is not a signatory to the 1979 Moon Treaty (which is widely considered moribund). Resource extraction rights operate under the 1967 Outer Space Treaty's non-appropriation principle — companies own what they extract but cannot claim territory. The US SPACE Act (2015) and Luxembourg Space Resources Law (2017) provide additional national frameworks. Israel does not have analogous domestic legislation yet.

Sources & References

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Helios

🇮🇱Yokneam Illit, IsraelLunar ISRU (oxygen + metal extraction)

Verified 2026-05-28· Helios Project, Ltd.

Founded

2018

Overview