In a strategic expansion of its business portfolio, Reliance Industries Ltd (RIL) has acquired a twenty-one percent stake in Wavetech Helium Inc (WHI), a US-based helium exploration and production company.
The deal, valued at $12 million, aligns with RIL’s focus on growing its presence in low-carbon energy solutions.
Details of the Acquisition
Reliance announced that its step-down subsidiary, Reliance Finance and Investments USA LLC, signed a stock purchase agreement.
The agreement grants Reliance a significant stake in the company, marking a notable entry into the helium gas exploration sector.
Strategic Expansion into Helium
The investment represents Reliance’s commitment to diversifying into exploration and production businesses that emphasize sustainability.
WHI specializes in the acquisition, exploration, and development of properties to extract helium gas from underground reservoirs.
Rising Demand for Helium
Helium plays a critical role in numerous industries, including medical applications, scientific research, aerospace, and fibre optics.
It is also essential in the manufacturing of semiconductors, which is experiencing surging demand due to the growth of AI and data centres.
As reported by msn.com, by capitalizing on these trends, Reliance aims to position itself at the forefront of helium production, catering to the needs of rapidly evolving industries.
