Reliance New Energy Solar Ltd, which is a wholly-owned subsidiary of Reliance Industries, recently purchased Faradion Limited. Reliance is the largest

Reliance Buys Sodium-Ion Battery Tech Company

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2022-01-23 23:00:03

Reliance New Energy Solar Ltd, which is a wholly-owned subsidiary of Reliance Industries, recently purchased Faradion Limited. Reliance is the largest private sector company in India. It’s also an energy company that focuses primarily on fossil fuels. The fact that its solar business has purchased Faradion shows that it’s making moves into battery development.

Faradion, the press release noted, has an extensive portfolio that covers many aspects of sodium-ion technology, providing some advantages over lithium-ion and lead-acid. The full list of advantages are:

Reliance stated that it will use Faradion’s technology at its proposed fully integrated energy storage factory, which is part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar, India. Chairman of Reliance Industries Mukesh Ambani welcomed Faradion and its team to Reliance in the following statement.

“We welcome Faradion and its experienced team to Reliance family. This 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. The 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. In addition, it has wide use applications from mobility to grid scale storage and back-up power.