Reliance New Energy acquires 100% stake in sodium-ion battery firm Faradion

Daily Current Affairs / Reliance New Energy acquires 100% stake in sodium-ion battery firm Faradion

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Category : Business and economics Published on: January 03 2022

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Reliance New Energy Solar (RNESL), a wholly-owned subsidiary of Reliance Industries has signed a definitive agreement to acquire 100% shareholding in Faradion (Faradion) for an enterprise value of GBP 100 Mn.
Reliance will use Faradion's state-of-the-art technology at its proposed fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar, India.
'Faradion', which is based in the UK, is one of the world's leading battery technology companies.