This deal was done for 12 million dollars
Mukesh Amb. bought 21 percent stake in American helium gas producing company Wavetech Helium for $12 million i.e. about Rs 12 crore. Purchases worth Rs 101.33 crore have been made. Reliance Industries gave this information to the stock market on Thursday.
When was Wavetech Helium Company started?
WaveTech Helium Company was incorporated in the United States on May 2, 2021, and the company began commercial operations in 2024 by acquiring assets and beginning production of helium.
Where is helium gas used?
Helium produced by WaveTech Company is used in medical science, scientific research, aerospace and aviation, fiber optics and electronics. In the future, helium may also be used for semiconductor manufacturing as AI and data centers expand.
The acquisition is part of the company’s strategy to expand its exploration and production business into low carbon solutions, the company said. The company said that the above transaction does not require any government or regulatory approval.
Why is Reliance focusing on helium?
Reliance is focusing on energy sources with low carbon emissions. So that there is no problem in the coming days. Along with this, the use of helium will increase rapidly in the future, because its use will be necessary for AI and data centers. It will also be used in making computer chips. In such a situation, Reliance is investing in this sector timely and is preparing to earn profits in future.
