In a headline-grabbing move for the space economy, Interlune and cryogenics leader Bluefors announced a deal aimed at sourcing helium‑3 from the Moon later this decade. The prospect of lunar helium‑3 mining has long captured imaginations as a potential fuel for future fusion and a critical isotope for advanced cryogenics. But how realistic is it in 2025? What technical and economic hurdles must be cleared? And what does this mean for near‑term use cases versus sci‑fi visions of limitless clean power? In this analysis, we unpack the Interlune–Bluefors agreement, the state of lunar resource extraction, and the most plausible paths to value between now and 2028.
What happened: Interlune x Bluefors helium‑3 deal
Who are Interlune and Bluefors?
Interlune is a venture‑backed startup focused on lunar resource extraction, with helium‑3 (He‑3) as its flagship target. Bluefors, a leading quantum cryogenics manufacturer, supplies dilution refrigerators and ultra‑low‑temperature systems used in quantum computing, fundamental physics, and advanced sensing. He‑3 is a critical working fluid for many of these systems, and terrestrial supplies are scarce and expensive.
What the agreement covers and timelines
According to reporting and company statements, the deal outlines a supply pathway for He‑3 sourced from the lunar regolith, with Interlune targeting initial extraction capability later this decade—some reports suggest as early as 2028 for pilot‑scale recovery. Bluefors’ interest signals near‑term demand in cryogenics rather than fusion fuel, with milestones expected around mission hardware demonstrations, thermal processing tests, and down‑selection of lunar site candidates.
Why this matters in 2025
He‑3 has high strategic value. It is used in neutron detection, ultra‑low‑temperature research, and advanced cryogenics. Earth‑based He‑3 is mostly a byproduct from tritium decay and is severely supply‑constrained, with prices that can reach tens of thousands of dollars per liter. A credible path to lunar supply could stabilize pricing and unlock more predictable scaling for quantum and scientific infrastructure—well before fusion needs it.
At the same time, the He‑3 story intersects with the broader lunar economy: robotics, power systems, thermal control, dust mitigation, autonomy, and in‑situ resource utilization (ISRU). Even if He‑3 volumes remain small, building the logistics stack for any lunar resource has compounding value for future missions.
The science and engineering of helium‑3 on the Moon
Abundance estimates and where it sits
He‑3 on the Moon is implanted into the upper regolith by the solar wind over billions of years. Abundance is typically measured in parts per billion (ppb) by mass—orders of magnitude lower than terrestrial ore grades for most mined commodities. Concentration varies by latitude, mineralogy, and maturity of the soil; some studies suggest slightly higher concentrations in older, titanium‑rich mare regions. Still, at ppb levels, any extraction plan must move and heat large volumes of regolith to liberate useful quantities.
Extraction and processing flow
- Excavation: Robotic scoops or bucket‑wheel systems collect shallow regolith.
- Thermal processing: Heating the soil to 600–900°C releases implanted volatiles (H, He‑4, He‑3, N, etc.).
- Separation: Gas handling and isotope separation concentrate He‑3 from He‑4 and other species.
- Storage and transport: He‑3 must be stored safely, then transferred to Earth via tanks inside return capsules.
The energy cost is significant. Efficient power systems (solar plus storage, fission surface power, or beamed power) and robust thermal design are prerequisites. High‑temperature, dust‑tolerant hardware and reliable seals/valves in a dusty vacuum are engineering challenges that require substantial testing.
Comparison/Analysis: He‑3 vs. lunar water ice and other ISRU
The Moon hosts multiple potential resources, each with different maturities and value paths. Here’s how He‑3 stacks up against widely discussed alternatives.
| Resource | Where | Value path (near term) | Key challenges | Who benefits first |
|---|---|---|---|---|
| Helium‑3 | Regolith globally (ppb) | Cryogenics, detectors; fusion later | Ultra‑low grade, high energy cost, isotope separation | Quantum labs, advanced research |
| Water ice | Polar PSRs and environs | Life support, propellant (H2/O2) | PSR thermal extremes, distribution uncertainty | All lunar operators (Artemis, landers) |
| Oxygen from regolith | Everywhere (oxides) | Breathable O2, oxidizer | Energy‑intensive extraction, furnace scale | Surface habitats, logistics |
| Metals (Ti, Fe) | Mare basalts, ilmenite | Structural parts, radiation shielding | Throughput, smelting in vacuum | In‑situ manufacturing |
NASA’s VIPER rover will ground‑truth volatile distribution at the south pole, informing the near‑term water/propellant case. He‑3, by contrast, is likely a niche, high‑value export play first, benefiting quantum and research markets on Earth.
Market scenarios and use cases
- Near term (2025–2028): Gram‑level to grams‑per‑day targets feed cryogenic systems, neutron detectors, and research. The business model resembles boutique isotopes, not bulk commodities.
- Mid term (late 2020s–2030s): If pilot lines succeed, scaling to tens of grams per month could stabilize pricing and enable growth in quantum research infrastructure. Logistics lessons will spill over into other ISRU ops.
- Long term (fusion era): He‑3‑based fusion is speculative today. Even if He‑3 became a favored fuel, orders of magnitude more production would be needed—demand that would only be rational once reactors exist and are proven economic.
Pros and cons
Pros
- Addresses a real, high‑value supply constraint for cryogenics and research.
- Builds reusable lunar logistics and processing know‑how with cross‑resource benefits.
- Pioneers commercial return‑to‑Earth supply chains beyond samples.
Cons
- Extremely low in‑situ concentrations require high energy and throughput to be material.
- Complex gas handling and isotope separation under lunar conditions add risk.
- Fusion demand is uncertain and too far out to underwrite early‑stage capex.
Pricing and unit economics (what we can say today)
Public He‑3 pricing has historically ranged widely due to scarcity, end‑use, and purity—commonly quoted in the tens of thousands of dollars per liter (standard conditions), with substantial variation. Lunar sourcing introduces additional costs (mission hardware, power, operations, return logistics) but may enable reliable availability—a value premium for critical research.
- Capex drivers: Excavation hardware, kilns/thermal processors, gas separators, power systems, return capsules.
- Opex drivers: Power consumption per kg soil, maintenance in dusty environment, crew time (if any), Earthside processing.
- Margins: Likely driven by guaranteed supply contracts and purity specs rather than volume commodity pricing in early years.
Reality check: early lunar He‑3 will not be “cheap.” The case hinges on mission‑critical availability and research growth, not cost‑down to mass‑market levels.
Risks and reality checks
- Engineering readiness: Thermal processing at scale in the lunar environment is unproven. Dust infiltration, seal integrity, and thermal cycling can derail uptime.
- Power budget: Heating regolith to 600–900°C at useful throughputs demands robust, reliable power (solar + storage or fission). Power is the beating heart of economics.
- Isotope separation: Efficient He‑3/He‑4 separation and handling in situ remains nontrivial; yields and losses drive unit economics.
- Logistics and return: Safe, repeated return of He‑3 tanks with predictable cadence is a new operational domain.
- Market fragility: If terrestrial supply improves (e.g., tritium programs or recycling) or substitutes emerge, demand elasticity could pinch margins.
What to watch next (2025–2028 milestones)
- Lab‑scale demonstrations of high‑throughput thermal release with realistic regolith simulants.
- Prototype separator performance: He‑3 recovery yields, purity levels, and system lifetime.
- Power system selections for lunar pilot rigs (surface fission vs. solar + storage).
- Lander/rover partnerships and site selection announcements with credible schedules.
- Signed off‑take agreements beyond Bluefors, indicating diversified demand.
Final verdict
The Interlune–Bluefors deal is a meaningful signal that the first sustainable lunar exports might be small in volume but high in value. In 2025, the most plausible path is not fusion—it’s supplying He‑3 to cryogenics and research customers starved for reliable inventory. If Interlune can prove durable thermal processing, robust gas handling, and dependable return logistics, the company will establish both a revenue beachhead and invaluable lunar operations expertise. Even modest success would ripple across the ISRU landscape, informing power system choices, dust mitigation, and autonomy for future resource missions.
Our take: treat He‑3 as a pragmatic, incremental market with exacting customers, not a silver bullet for energy. Focus on engineering milestones and contracts, not hype. If those arrive on schedule, He‑3 could become the first commercially meaningful lunar export by 2028—small in kilograms, large in impact.
FAQs
What is helium‑3 and why is it valuable?
Helium‑3 is a rare isotope used in ultra‑low‑temperature cryogenics, neutron detection, and research. It’s also discussed as a potential fusion fuel, though practical He‑3 fusion remains speculative today.
Is lunar helium‑3 mining really feasible?
Technically possible, but challenging. He‑3 is present at ppb levels in regolith, requiring high‑energy thermal processing and reliable gas separation. Early efforts will target niche, high‑value markets.
Why is Bluefors involved?
Bluefors manufactures quantum cryogenic systems that can require He‑3. Securing supply helps de‑risk growth for quantum computing and advanced research infrastructure.
How does this compare to mining water ice on the Moon?
Water ice supports local operations (life support and propellant) near the poles. He‑3 is likely exported to Earth in small quantities. Each resource has distinct engineering and economic profiles.
When could we see the first lunar He‑3 deliveries?
Optimistic timelines point to late‑decade pilot deliveries (as early as 2028), contingent on successful demos, partners, and return logistics.
Will He‑3 power fusion reactors soon?
Unlikely. He‑3 fusion concepts exist, but practical, economic reactors are not imminent. Near‑term demand is dominated by cryogenics and research.
What are the biggest technical risks?
Maintaining high‑temperature processing in dusty vacuum, achieving efficient isotope separation, and delivering reliable power at scale on the lunar surface.
What should investors and partners watch?
Hardware demos, power system choices, multi‑year off‑take agreements, and credible mission manifests with proven lander partners.
Sources
- Gizmodo coverage of Interlune–Bluefors deal: gizmodo.com
- Bluefors company info: bluefors.com
- NASA lunar resources and ISRU: nasa.gov/isru
- Background on He‑3 in lunar regolith (review articles and mission data summaries).
