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

Category : Business and economics
Published on: January 03 2022 Share on facebook

  • 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.
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