Reliance Has Invested $144 Million In American Company Ambri Inc
Reliance has invested $144 million in American company Ambri Inc. Mukesh Ambani will now set foot in this sector, Reliance has invested in a big foreign company.
Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), will invest $144 million in American company Ambri Inc.
Reliance New Energy Solar Limited will buy 42 million shares of Ambri Inc based in Massachusetts, USA for $ 50 million.
AESL along with its strategic investors Paulson & Company Inc. and Bill Gates and a few other investors announced the deal.
The investment will help the company develop its long-term energy storage systems globally.
Ambri Inc. holds the patent for Energy Storage Systems that last from 4 to 24 hours.
Ambari’s technology could solve the problems associated with cost, safety, and longevity of lithium-ion batteries used in grid-scale ‘stationary storage applications.
With this, renewable energy can be easily integrated into the grid system.
RNESL and Ambri Inc are also discussing setting up a large-scale battery manufacturing facility in India. This will help reduce the cost of Reliance’s Green Energy Initiative.
Addressing shareholders in June this year, RIL Chairman Mukesh Ambani had announced the construction of a Giga factory for energy storage as part of the DAGEG Complex project in Jamnagar.
He said that we are exploring new and advanced electrochemical technologies, which can be used as grid batteries to store energy.
We will collaborate with global leaders in battery technology to provide round-the-clock power through new-generation storage and grid connectivity.
Ambari can handle projects ranging from 10 MW to 2 GW of ‘Energy Storage Systems.
The company will make calcium and antimony electrode-based cells and container systems, which will be economical compared to lithium-ion batteries.
This system is more environmentally friendly, more secure, and will last for about 20 years. The Ambari system would be suitable for high-usage customers.
Users who depend on solar power during daytime and peak load times of evening and morning will be able to draw energy from the system. The company will start its commercial operation after 2023.
