Mukesh Ambani’s Reliance has acquired UK battery maker Faradion.
The acquisition is valued at £100 million, expected to be completed by January 2022.
This is in line with the company’s clean energy vision, especially after the Saudi Aramco deal fell apart.
Mukesh Ambani’s Reliance Industries (RIL) is looking beyond oil for its future, and after announcing its ₹75,000 crore clean energy vision earlier this year, the company has taken the first concrete step forward with the acquisition of Faradion, a UK-based battery technology company.
Reliance New Energy Solar, a subsidiary of Reliance Industries has entered into an agreement to acquire a 100% stake in UK’s Faradion Limited, a sodium ion battery technology provider.
Reliance has agreed to acquire the company at £100 million (approx. ₹1,004 crore) as per a stock exchange filing.
The company will acquire 88.92% of…
Mukesh Ambani’s clean energy vision gets a New Year boost with the acquisition of this UK battery tech company
