RIL acquires 21% stake in Wavetech Helium for $12 mn

PTI

New Delhi, Updated At : 04:29 AM Nov 29, 2024 IST

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Reliance Industries Ltd on Thursday said it has acquired a 21 per cent stake in US helium gas exploration and production company Wavetech Helium Inc for $12 million.

WHI is a US 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, and fibre optics. Given the growth expected in AI and data centres, helium demand for semiconductor manufacturing is expected to increase.

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