RIL Entity Acquires a 21% Share in US-based Wavetech Helium for $12 million

Mukesh Ambani-backed Reliance Industries (RIL) said on Thursday that its subsidiary will acquire a 21% share in Wavetech Helium, Inc (WHI), marking the oil-to-telecom conglomerate's entry into the helium industry.

Reliance Finance and Investments USA LLC (RFIUL), a step-down wholly owned subsidiary of RIL, has engaged into a stock purchase agreement with Wavetech Helium, Inc. (WHI) and subscribed for a 21% share in WHI for an aggregate value of $12 million, according to a stock exchange filing.

According to industry sources, the acquisition represents RIL's endeavor to obtain a better grasp of the helium-related area and investigate its possibilities.

According to WHI's website, the business owns helium gas reserves (including proved reserves) and resources in E-SE Colorado/W Kansas and NW Montana, which are two of the world's best helium fairways.

RIL's most recent substantial investment in the United States was through joint ventures formed in 2010 to acquire stakes in US shale gas properties, from which the company left entirely in 2021.

WHI, incorporated in the United States, began commercial operations in the calendar year 2024. WHI is a US helium gas exploration and production business that acquires, explores, and develops properties for producing helium gas from subterranean reservoirs.

RIL stated that the acquisition is part of the company's ambition to diversify its exploration and production activities into low-carbon solutions.

Helium is the company's new product line, and it is utilized in medical applications, scientific research, aerospace and aeronautics, electronics, fiber optics, and other fields. Furthermore, given the expected expansion in AI and data centers, RIL predicted that helium demand for semiconductor fabrication will rise. WHI's website, which highlights helium's economic potential, states that over the last 20 years, helium demand increase and supply decline has drove pricing to above $300+/million cubic feet (MCF), which is almost one hundred times the current US natural gas pricing.