{"id":12421,"date":"2021-12-31T13:11:09","date_gmt":"2021-12-31T07:41:09","guid":{"rendered":"https:\/\/tradebrains.in\/features\/uk-faradion-reliance\/"},"modified":"2021-12-31T13:11:09","modified_gmt":"2021-12-31T07:41:09","slug":"uk-faradion-reliance","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/uk-faradion-reliance\/","title":{"rendered":"Reliance New Energy Solar to acquire UK\u2019s battery firm Faradion"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3124621737\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> London, Dec 31 (PTI) Reliance New Energy Solar Ltd (RNESL) has signed definitive agreements to acquire UK-based sodium-ion battery technology company Faradion for an enterprise value of GBP 100 million, both companies announced on Friday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3611135645\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> RNESL, a wholly owned subsidiary of Mukesh Ambani led Reliance Industries Ltd (RIL), will acquire 100 per cent shareholding in Faradion Limited, with plans to invest GBP 25 million as primary investment to fund and accelerate commercial roll out.<\/p>\n<p> RIL said the acquisition will help secure India\u2019s energy storage requirements for its large renewable energy and fast-growing electric vehicle (EV) charging market.<\/p>\n<p> \u201cThis 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,\u201d said Mukesh Ambani, Chairman of Reliance Industries Ltd.<\/p><div class=\"trade-content_5\" id=\"trade-973085953\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> \u201cThe sodium-ion technology developed by Faradion provides a globally leading energy storage and battery solution which is safe, sustainable, provides high energy density and is significantly cost competitive.<\/p>\n<p> In addition, it has wide use applications from mobility to grid scale storage and back-up power. Most importantly, it utilises sodium, which will secure India\u2019s energy storage requirements for its large renewable energy and fast-growing EV charging market,\u201d he said.<\/p>\n<p> Reliance will incorporate Faradion\u2019s 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 in Gujarat.<\/p>\n<p> Ambani said the deal means that RNESL will work with Faradion and accelerate its plans to commercialise the technology through building integrated and end-to-end giga scale manufacturing in India.<\/p>\n<p> \u201cWe believe this will be one of our many steps that will also enable, accelerate, and secure large scale energy storage requirements for our Indian partners developing and transforming India\u2019s EV mobility and transport sector,\u201d he added.<\/p>\n<p> Based out of Sheffield and Oxford in the UK, Faradion is among the world\u2019s leading battery technology companies.<\/p><div class=\"trade-content-10\" id=\"trade-1876773918\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> \u201cFaradion has been one of the first to champion sodium-ion battery technology,\u201d said James Quinn, CEO of Faradion.<\/p>\n<p> \u201cReliance is the perfect partner for supporting Faradion\u2019s growth in the rapidly expanding Indian market and to jointly speed up the transformation of the global energy market. Becoming part of the Reliance group validates the incredible work our team has done in advancing sodium-ion technology,\u201d Quinn said.<\/p>\n<p> Dr Chris Wright, Chairman and Co-Founder of Faradion, said: \u201cDr Jerry Barker, Ashwin Kumaraswamy and I founded Faradion in 2010 to develop sodium-ion technology and bring it to market, with funds from Mercia Asset Management.<\/p>\n<p> \u201cThis deal with Reliance firmly establishes Faradion\u2019s sodium-ion batteries as an integral part of the global value chain for cheaper, cleaner, more sustainable energy for decades to come.\u201d \t Faradion\u2019s proprietary sodium-ion battery technology claims to deliver leading-edge, cost-effective solutions for a broad range of applications, including mobility, energy storage, backup power and energy in remote locations. PTI AK  SCY SCY<\/p>\n<div class=\"trade-after-content\" id=\"trade-1226394946\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>London, Dec 31 (PTI) Reliance New Energy Solar Ltd (RNESL) has signed definitive agreements to acquire UK-based sodium-ion battery technology company Faradion for an enterprise value of GBP 100 million, both companies announced on Friday. RNESL, a wholly owned subsidiary of Mukesh Ambani led Reliance Industries Ltd (RIL), will acquire 100 per cent shareholding in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-12421","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reliance New Energy Solar to acquire UK\u2019s battery firm Faradion - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/uk-faradion-reliance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance New Energy Solar to acquire UK\u2019s battery firm Faradion\" \/>\n<meta property=\"og:description\" content=\"London, Dec 31 (PTI) Reliance New Energy Solar Ltd (RNESL) has signed definitive agreements to acquire UK-based sodium-ion battery technology company Faradion for an enterprise value of GBP 100 million, both companies announced on Friday. 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