Reliance to Acquire Sodium-Ion Battery Technology Provider Faradion for £94 Million

Faradion’s technology will be used at Reliance’s proposed energy storage giga-factory in Gujarat

December 31, 2021

/ Harsh Shukla
/ Energy Storage
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Reliance New Energy Solar Limited (RNESL), the green energy arm of Reliance Industries Limited (RIL), has signed an agreement with sodium-ion battery technology provider Faradion Limited to acquire a 100% stake for £94.42 million (~$127.42 million). Faradion has an enterprise value of around £100 million (~$134.96 million).

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Harsh Shukla

More articles from Harsh Shukla.
AcquisitionBatteryFaradionGujaratRelianceRNESLSodium-ion
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