Reliance New Energy Solar to buy Faradion

Based in Sheffield and Oxford in the UK, Faradion has patented sodium-ion battery technology. The company has a comprehensive and comprehensive intellectual property portfolio on many aspects of sodium-ion technology.

Reliance New Energy Solar will invest £25 million in development capital to accelerate commercial roll-out.

Reliance said Faradion’s sodium-ion technology offers significant advantages over alternative technologies such as lithium-ion and lead-acid batteries.

Faradion’s patented technology is sustainable because it does not use cobalt, lithium, copper or graphite, while sodium is the sixth most abundant element in the world.

It has patented zero-volt safe transportation and storage and cost of ownership comparable to lead-acid with further potential for reduction in cost.

Production can easily be scaled up as it can utilize existing lithium-ion manufacturing infrastructure. Performance-wise, its energy density is comparable to that of lithium-ion phosphate, but with fast-charge and discharge capabilities at a wide operating temperature of -30 °C to +60 °C.

“It all combines to provide a next generation, high-density, safe, sustainable and low-cost energy storage technology solution,” Reliance said.

Reliance will use Faradion’s state-of-the-art technology at its upcoming fully integrated energy storage Gigafactory at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar.

“This will further strengthen our ambition to create one of the most advanced and integrated new energy ecosystems and put India at the forefront of leading battery technologies. Sodium-ion technology developed by Faradion provides a globally leading energy storage and battery solution that is safe, sustainable, delivers high energy density and is significantly cost competitive. Moreover, it has wide-ranging applications – from mobility to grid-scale storage and back-up power,” said Mukesh Ambani, chairman, Reliance Industries.

“Most importantly, it uses sodium, which will secure India’s energy storage needs for its large renewable energy and rapidly growing EV charging market. We will work with Faradion Management to integrate and launch in India.” will accelerate our plans to commercialize the technology through end-to-end giga-scale manufacturing.We believe this will be one of our many initiatives that will help our Indians grow and transform India’s EV mobility and transportation sector. Enables, accelerates and secures large-scale energy storage requirements for the partners,” Ambani said.

Ever since Ambani announced an ambitious plan to invest in the company’s AGM in June, Reliance has been on an acquisition spree in the renewable energy space. 75,000 crore in a new green and clean energy business in three years.

RNESL completed its investment on Thursday 1,100 crore in solar EPC services company Sterling & Wilson Renewable Energy.

Earlier in October, RNESL announced the acquisition of REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co., Ltd. for an enterprise value of $771 million.