Reliance subsidiary acquires US-based Wavetech Helium for $12 million 

Reliance Finance and Investments USA LLC, a step-down wholly-owned subsidiary of RIL, has bought 21 percent stake in US-based Wavetech Helium, Inc 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. The transaction is not a related party deal; no regulatory or governmental approvals were required.