The deal was formalized through a stock purchase agreement signed on November 27, 2024.
WHI is a U.S. helium gas exploration and production company engaged in the acquisition, exploration, and development of properties to produce helium gas from underground reservoirs.
It was incorporated on July 2, 2021, in the United States and started its commercial operations in CY 2024.
Helium is used in medical applications, scientific research, aerospace and aeronautics, electronics, fibre optics etc. Further, given the growth expected in AI & Datacentres, helium demand for semiconductor manufacturing is expected to increase.
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“The acquisition is part of the company’s strategy to expand its exploration and production business in low carbon solutions,” said RIL, adding that the investment is not a related party transaction and none of the company’s promoter or promoter group companies have any interest in the above transaction.
