India's Reliance Industries has purchased a 21% stake in US helium producer Wavetech Helium for $12 million in its US business unit, with the aim of expanding the group's business in low-carbon energy.

The group made its first investment in green energy assets in 2021, with an investment amount of $10 billion, with the goal of achieving net zero emissions within the group by 2035.

Reliance Industries Group is a subsidiary of India's richest man, Mukesh Ambani, and operates the world's largest oil refinery in the western Indian state of Gujarat.

Wavetech Helium is an American helium exploration and production company founded on July 2, 2021 in the United States and began commercial operations in 2024.

Reliance Group stated that this acquisition is part of its strategy to expand low-carbon solutions and will be completed in the form of a stock transaction without the need for government or regulatory approval.

Helium is widely used in industries such as healthcare, scientific research, aerospace, electronics, and fiber optics. Reliance Group expects that with the development of artificial intelligence and data centers, the demand for helium in the semiconductor industry will increase.

Previously, market research firm IDTechEx released a report stating that global helium demand is expected to exceed 322 million cubic meters by 2035, nearly double the current level. The main driving force behind this is the rapid development of AI, quantum computing, telecommunications, space, and electric vehicle industries, as well as the high growth of related chips, which in turn will drive a significant increase in helium demand.

Only a few countries in the world can produce helium, with the United States and Qatar being the main producers. Data shows that in 2023, the helium production in the United States and Qatar will be 79 million cubic meters and 66 million cubic meters respectively, while Russia's production will be 8 million cubic meters. But with the acceleration of production at the Amur factory, it is expected that Russia's helium production will reach 75 million cubic meters by 2030.

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