(Reuters) - Reliance Industries' U.S. unit has bought a 21% stake in U.S.-based helium production company Wavetech Helium for $12 million, the conglomerate said on Thursday, in a move aimed at expanding its low-carbon energy segment.

Reliance Industries, through its subsidiary Reliance Finance and Investments USA LLC, acquired a 21% stake in Wavetech Helium Inc. The deal, valued at

Reliance Finance and Investments USA LLC, a subsidiary of Reliance Industries, acquired a 21% stake in US-based Wavetech Helium for $12 million (Rs 100 crore) on November 27, 2024. The investment aims to expand its low-carbon exploration business.

As per the agreement, Reliance Finance and Investments will buy a 21 per cent stake for an aggregate consideration of $12 million

Reliance Finance and Investments has signed a deal to acquire a 21% stake in US-based helium gas exploration company Wavetech Helium, Inc. (WHI) for $12m. WHI started its commercial operations earlier this year. The company is currently preparing for a 200 well development drilling programme in the Morrow channel reservoirs in Colorado.

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 USD 12 million. "Reliance Finance and Investments USA LLC,

The billionaire Mukesh Ambani-run group, which operates the world's biggest oil refining complex at Jamnagar in the western Indian state of Gujarat, announced in 2021 investments worth $10 billion to develop its green energy portfolio and achieve its 2035 net zero carbon goal.

The acquisition, according to industry sources, is seen as RIL's attempt to gain further understanding and explore potential in the helium-related segment

Reliance Industries (RIL) shares will be in focus on Friday following the acquisition of a 21% stake in US-based Wavetech Helium, Inc. by its step-down subsidiary, Reliance Finance and Investments USA LLC,