Reliance Industries arm acquires 21% stake in US-based Wavetech Helium for $12 million

Reliance Industries arm acquires 21% stake in US-based Wavetech Helium for $12 million

Reliance Industries Ltd (RIL) on November 28 said its wholly owned subsidiary Reliance Finance and Investments USA LLC acquired 21% stake in US-based Wavetech Helium for $12 million.

WHI was incorporated on July 2, 2021 in United States and started its commercial operations in CY2024. WHI is a US-based helium gas exploration and production company engaged in the acquisition, exploration, and development of properties to produce helium gas from underground reservoirs.

Helium is used in medical applications, scientific research, aerospace and aeronautics, electronics, fibre optics etc. Further, given the growth expected in AI & Datacentres, helium demand for semiconductor manufacturing is expected to increase.

"The acquisition is part of the Company’s strategy to expand its exploration and production business in low carbon solutions," said RIL in a stock exchange filing.

In 2021, RIL had announced investments worth $10 billion to develop its green energy portfolio and achieve its 2035 net zero carbon goal.

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