Reliance's U.S. unit invests $12 million in helium producer Wavetech Helium

Reliance Industries' U.S. unit has acquired a 21% stake in Wavetech Helium for $12 million. This investment, announced on November 28, 2024, is part of Reliance's strategy to expand its low-carbon energy segment. Wavetech Helium is a U.S.-based company that produces helium, a gas used in various green technologies and medical applications. Reliance aims to enhance its green energy portfolio, following a $10 billion investment plan announced in 2021. The move aligns with Reliance's goal to achieve net zero carbon emissions by 2035. Helium, a by-product of natural gas mining, plays a crucial role in scientific research, aerospace, and electronics.