Notification
No new Notification messages
Q2 FY'24-25 Results of Top Companies
Reliance, TCS, HDFC Bank & more: Explore key financial highlights from India's top quarterly results.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Diwali Offer: MTF at just 9.99%
Iss Diwali, Investments Ko Karo 4X with our Trade Now, Pay Later (MTF) feature
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Reliance Acquires Full Ownership of Faradion

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Reliance New Energy completes Faradion acquisition, securing cutting-edge sodium-ion battery technology to power sustainable energy initiatives at its upcoming Jamnagar gigafactory.

Reliance New Energy news today

Reliance New Energy Limited (RNEL), a subsidiary of Reliance Industries, has officially acquired the remaining 8% stake in Faradion Limited, a UK-based leader in sodium-ion battery technology. Finalised on October 28, 2024, the transaction grants RNEL full ownership of Faradion, adding an advanced energy storage technology to its portfolio. RNEL initially acquired a majority stake in Faradion in December 2021, valuing the company at £100 million, alongside an investment of £25 million to fuel its growth.

RELIANCE INDUSTRIES LTD

Trade

1343.93.90 (0.29 %)

Updated - 30 October 2024
1350.00day high
DAY HIGH
1325.35day low
DAY LOW
11984423
VOLUME (BSE)

Faradion’s sodium-ion battery technology: A sustainable solution

Faradion, based in Sheffield and Oxford, specialises in sodium-ion batteries—a sustainable and economically viable alternative to traditional lithium-ion batteries. Sodium-ion technology addresses several limitations associated with lithium-ion batteries, particularly in terms of affordability, resource availability, and safety. Sodium is a more abundant resource than lithium, lowering production costs and minimising reliance on lithium mining, which has significant environmental impacts. Additionally, sodium-ion batteries demonstrate greater thermal stability, reducing risks of overheating and fire.

Despite sodium batteries traditionally having lower energy density compared to lithium-ion batteries, Faradion has developed high-energy-density sodium batteries that promise efficiency without compromising safety or sustainability. This makes Faradion’s technology ideal for applications in energy storage and renewable power systems.

Integration into Reliance’s green energy ambitions

RNEL plans to integrate Faradion’s sodium-ion technology into its ambitious green energy projects, particularly at the upcoming energy storage gigafactory in Jamnagar, Gujarat. The Dhirubhai Ambani Green Energy Giga Complex, a major component of Reliance’s renewable energy expansion, aims to lead India’s transition to sustainable energy solutions. This gigafactory will house Faradion’s cutting-edge battery technology, supporting large-scale energy storage and promoting Reliance’s goal of self-sufficiency in energy production.

Market impact and future outlook for Reliance

The acquisition aligns with Reliance’s broader commitment to sustainable energy and reduces its dependency on lithium resources for energy storage. By bringing Faradion’s unique sodium-ion technology in-house, RNEL gains a competitive advantage in the evolving global battery market, positioning itself at the forefront of green energy technology.

For investors, the acquisition may positively impact Reliance New Energy share price, especially as the company rolls out this technology in its energy projects. As sodium-ion technology becomes increasingly essential for sustainable energy storage solutions, Reliance’s full ownership of Faradion positions it as a leader in the transition to eco-friendly energy alternatives.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs + Users

icon-with-text

4.8+ App Rating

icon-with-text

4 Languages

icon-with-text

₹5000+ Cr MTF Book

icon-with-text