Reliance Industries’ US subsidiary has acquired a 21% stake in Wavetech Helium, a US-based helium production company, for $12 million, the company announced on Thursday. The investment aligns with Reliance’s strategy to expand its low-carbon energy segment as part of its green energy ambitions.
The conglomerate, led by Indian billionaire Mukesh Ambani, operates the world’s largest oil refining complex in Jamnagar, Gujarat (India), and has committed $10 billion since 2021 to develop its green energy portfolio. The goal is to achieve net-zero carbon emissions by 2035.
Helium gas, a by-product of natural gas extraction, plays a vital role in various green technologies and industries, including medical applications, scientific research, aerospace, electronics, and fibre optics. The acquisition highlights Reliance’s efforts to diversify and strengthen its position in sustainable energy markets.
