New Delhi: Reliance New Energy Solar, a subsidiary of Reliance Industries (RIL), has signed definitive agreements to acquire 100 per cent stake in Faradion Limited for £100 million (over Rs 1,000 crore), RIL said on Friday.
In the stock exchange filing, RIL said, “Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of the firm, has entered into an agreement with Faradion Limited (Faradion) and its shareholders for acquiring 100 per cent of the equity shares of Faradion through secondary transactions for a total value of £94.42million based on an enterprise value of £100 million.”
Faradion is a leading global battery technology company that has patents of sodium-ion battery technology. The Sheffield and Oxford-based firm has a wide range of IP portfolios covering many aspects of the sodium-ion technology.
The RIL subsidiary will acquire 88.92…
Reliance Solar Energy Arm Acquires 100 Per Cent Stake In UK-Based Battery Firm Faradion
