A model is developed of plasma-chemical reactions in a helium–hydrogen plasma formed by a hard ionizer. It is shown that, in principle, lasing is possible as a result of a photodissociation transition in the HeH* exciplex (λ = 460 nm, Δλ = 310 nm). The characteristics of the active medium subjected to pulsed and pulse-periodic pumping are analyzed analytically in the steady-state approximation and also numerically. A considerable gain amounting to ≈2×10−2cm−1 and an average efficiency of the active medium ηav ≈ 3% can be achieved by pumping a dense medium ([He] ≈ 1021cm−3) with a small amount of hydrogen ([H2] ≈ 2×1017cm−3) by ∼ 100 nsec pulses with a peak current density je ≈ 1 kA/cm2 in the case of an electron beam and jp ≈ 2 A/cm2 in the case of a proton beam (the particle energy is assumed to be 300 keV). In the case of pulse-periodic pumping by a beam modulated at the microwave frequency the pulse repetition frequency should be in the range f ≲ 50 MHz.
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