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.

WHI is a US-based helium gas exploration and production company engaged in the acquisition, exploration, and development of properties to produce helium gas from underground reservoirs.

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,

Reliance Finance and Investments USA LLC (RFIUL), a step-down wholly owned subsidiary of the company, November 27, entered into a stock purchase agreement with Wavetech Helium, Inc. (WHI) and subscribed to a 21 per cent stake in WHI for an aggregate consideration of USD 12 million.

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

Stock Purchase Agreement with Wavetech Helium, Inc. (WHI) and subscribed to a 21% stake of WHI for an aggregat