Thursday, March 28, 2024
24bc banner ep en 696x86 copy

Reliance New Energy Solar to acquire sodium-ion battery firm Faradion

Subscribe to YouTube Channel

Subscribe to Mojo4Industry YouTube Channel and get Latest Industry Updates. Do press Bell Icon to get automated notifications whenever new video is uploaded.

Must Read

Bengaluru Airport adds technology for live monitoring of temperature-controlled cargo

Bengaluru Airport adds technology for live monitoring of temperature-controlled cargoKempegowda International Airport, Bengaluru brings an Internet of Things (IoT)...

Sterlite Power acquires Beawar Transmission Limited Project from REC

Sterlite Power acquires Beawar Transmission Limited Project from REC Sterlite Power has disclosed its acquisition of Beawar Transmission Limited, a...

Hendrickson launches advanced suspensions and axles for trailers in India

Hendrickson launches advanced suspensions and axles for trailers in India Hendrickson, a global manufacturer and supplier of medium and heavy-duty...

Reliance New Energy Solar to acquire sodium-ion battery firm Faradion

Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries, to acquire sodium ion battery technology provider Faradion for 100 million pounds including debt.

“RNESL has signed definitive agreements to acquire 100% shareholding in Faradion for an enterprise value of GBP 100 Mn. In addition, RNESL will also invest GBP 25 Mn as growth capital to accelerate commercial roll out,” the company said in a filing.

Based out of Sheffield and Oxford in UK and with its patented sodium-ion battery

technology, Faradion is one of the leading global battery technology companies. It claims to have a competitively superior, strategic, wide-reaching and extensive IP portfolio covering several aspects of sodium-ion technology.

Speaking about the acquisition, Mukesh Ambani, Chairman of Reliance Industries, said, “This (Faradion) will further strengthen and build upon our ambition to create one of the most advanced and integrated New Energy ecosystem and put India at the forefront of leading battery technologies.”

He adds, “We will work with Faradion management and accelerate its plans to commercialise the technology through building integrated and end-to-end giga scale manufacturing in India.”

James Quinn, CEO of Faradion, also commented, “Together with Reliance, Faradion can bring British innovation to India and globally, as the world increasingly looks beyond lithium.”

Subscribe to our Newsletter

Keep up with the latest industry news in India and around the world by subscribing to our industrial news update. This way, you'll always be in the know about what's happening in your industry, and you can stay ahead of the competition.

Digital Vs Print Media
mojo4industry on google news

Tech Talks

Industrial News & Media Updates | mojo4industry media Newsletter 23 March 2024

𝗖𝗢𝗡𝗧𝗘𝗡𝗧 - 𝗡𝗲𝘄𝘀 & 𝗠𝗲𝗱𝗶𝗮 𝗨𝗽𝗱𝗮𝘁𝗲𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗼𝗻𝘁𝗵: • Adani Solar: Leading India’s Renewable Revolution • Inside Schmersal India’s Factory: Safety Week Special • Bergen Group Reveals Sustainable Energy Roadmap • 22/7 Enterprise aims global expansion • Smart T&M for HVAC l Testo l ACREX • Marposs presents leak testing solutions for HVAC products at ACREX 24
hm24 socials energizing story 1080x1920px gb mlogo
mojo4industry podcast episodes click here to listen