Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries Limited, has signed definitive agreements to acquire 100 per cent shareholding in Faradion Limited for an enterprise value of 100 million pounds.
Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
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Reliance will work with Faradion management and accelerate its plans to commercialise the technology through building integrated and end-to-end Giga scale manufactur.