Reliance Industries buys UK battery company for $135 million

NEW DELHI, January 3, 2022 – Reliance Industries has signed an agreement with UK battery company Faradion to acquire all shares for USD 135 million, the Indian multinational conglomerate announced on Friday.

 

Reliance Industries intends to put down an additional USD 33.8 million to accelerate the commercial roll out of Faradion’s patented sodium-ion battery.

The technology will be used in the conglomerate’s Dhirubhai Ambani Green Energy Giga Complex project in Jamnagar, India.

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