Reliance Industries Limited (RIL), led by Mukesh Ambani, announced on Thursday, November 28, that its step-down subsidiary, Reliance Finance and Investments USA LLC (RFIUL), has acquired a 21% equity stake in Wavetech Helium Inc. (WHI) for $12 million. The acquisition was executed through a Stock Purchase Agreement finalized on November 27, 2024, as stated in a regulatory filing.
Wavetech Helium, founded in 2021 and operational since 2024, is a US-based company focused on helium gas exploration and production. It specializes in acquiring and developing properties for extracting helium from underground reservoirs. Helium is vital across industries, with applications in medical technology, aerospace, fibre optics, scientific research, and electronics. The growing demand for semiconductors, driven by advancements in AI and data centres, is expected to further increase helium consumption.
This investment aligns with RIL’s strategy to enhance its exploration and production portfolio with a focus on low-carbon solutions. The deal, which does not involve related parties or require regulatory approvals, underscores Reliance’s commitment to diversifying into sustainable and future-ready business areas.
Wavetech Helium Inc., established in 2021 and operational since 2024, is a U.S.-based company dedicated to the exploration and production of helium gas. It specializes in acquiring and developing properties to extract helium from underground reservoirs, addressing the growing global demand for this critical resource.
Helium is essential for various advanced applications, including medical equipment, aerospace technology, fibre optics, electronics, and scientific research. With the increasing demand for semiconductors driven by advancements in artificial intelligence and data centres, Wavetech Helium is positioned to play a significant role in supporting industries reliant on this rare and valuable gas.
Reliance Industries Limited, led by Mukesh Ambani, is India’s largest private-sector company with a diverse portfolio spanning energy, petrochemicals, retail, and telecommunications. Known for its pioneering initiatives, RIL is a global leader in refining and petrochemical production and has transformed India’s telecom landscape with its Jio platform.
Recently, the company has expanded its focus on low-carbon solutions, renewable energy, and sustainable technologies, aligning with global energy transition trends. With a reputation for innovation and scale, RIL continues to shape industries in India and abroad while pursuing long-term growth through strategic investments and diversification.
