{"id":459710,"date":"2022-01-01T10:10:35","date_gmt":"2022-01-01T04:40:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=459710"},"modified":"2022-01-01T11:41:14","modified_gmt":"2022-01-01T06:11:14","slug":"reliance-to-buy-battery-tech-company-faradion-for-100-million","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-to-buy-battery-tech-company-faradion-for-100-million\/","title":{"rendered":"Reliance to buy battery tech company Faradion for \u00a3100 million"},"content":{"rendered":"<p>New Delhi: Reliance Industries NSE 0.38 % Ltd (RIL) will acquire British firm Faradion Ltd for an enterprise value of \u00a3100 million that will give it access to high density, sustainable and cost-competitive battery technology, the company said in a statement on Friday.<\/p>\n<p>Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of RIL, will acquire all of Faradion and will invest a further \u00a325 million as growth capital to accelerate the commercial rollout of the UK firm&#8217;s battery technology. Faradion\u2019s patented sodium-ion battery technology provides significant advantages over alternative battery technologies, especially lithium-ion and lead-acid, RIL said.<\/p>\n<p>\u201cThe sodium-ion technology developed by Faradion provides a globally leading energy storage and battery solution which is safe, sustainable, provides high energy density and is significantly costcompetitive,\u201d said RIL chairman Mukesh Ambani.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: Reliance Industries NSE 0.38 % Ltd (RIL) will acquire British firm Faradion Ltd for an enterprise value of \u00a3100 million that will give it access to high density, sustainable and cost-competitive battery technology, the company said in a statement on Friday. Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of RIL, will acquire all of Faradion and will invest a further \u00a325 million as growth capital to accelerate the commercial rollout of the UK firm&#8217;s battery technology. Faradion\u2019s patented sodium-ion battery technology provides significant advantages over alternative battery technologies, especially lithium-ion and lead-acid, RIL said. \u201cThe sodium-ion [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-459710","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/459710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=459710"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/459710\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=459710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=459710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=459710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}