Founded in July 2021, Wavetech Helium is a helium gas exploration and production company based in the United States. Helium is used in a range of applications, including medicine, scientific research, aerospace, electronics, and optical fibers. Given the expected growth of Al and data centers, the demand for helium for semiconductor production can also be expected to extend.
Wavetech began business operations in fiscal yr 2024. Helium produced by Wavetech Helium is used in medical applications, scientific research, aerospace, electronics, fiber optics and semiconductor manufacturing.
Specifically, Wavetech Helium controls helium gas reserves (including proven) and resources in E-SE Colorado/W Kansas and NW Montana, two of the best helium tracks in the world.
This acquisition is an element of Reliance’s technique to expand its exploration and production activities into low-carbon solutions.
Moreover, the investment is in line with Reliance’s technique to diversify into recent energy sectors and reduce its carbon footprint. As helium is a key ingredient in a range of high-tech applications, including medicine, scientific research, aerospace and semiconductor manufacturing, this acquisition allows Reliance to capitalize on the growing demand for helium.
The acquisition opens recent markets for Reliance, especially in the United States, where helium is a helpful resource for various industries. This can also be in line with global sustainable development goals, as helium production has a comparatively low environmental impact in comparison with other fossil fuels.
