Reliance Finance and Investments USA LLC Acquires Stake in Wavetech Helium
Reliance Finance and Investments USA LLC, a subsidiary of Reliance Industries Limited (RIL), has acquired a 21% stake in US-based Wavetech Helium, Inc. for $12 million. This strategic move expands RIL's exploration and production business into low-carbon solutions.
Wavetech Helium, Inc. (WHI) is a helium gas exploration and production company established in the United States in 2021. The company focuses on acquiring, exploring, and developing properties to extract helium gas from underground reservoirs. WHI commenced commercial operations in 2024.
Helium is a crucial element with diverse applications in various industries, including medical, scientific research, aerospace, aeronautics, electronics, and fiber optics. The increasing demand for helium in semiconductor manufacturing, driven by the growth of artificial intelligence and data centers, further highlights its importance.
This acquisition aligns with RIL's strategy to expand its presence in the low-carbon solutions market. The transaction was completed without any regulatory or governmental approvals as it does not involve related parties.