Reliance powers up for Faradion

摘要

INDIAN conglomerate Reliance Industries has struck a deal to acquire UK battery technology provider Faradion for ￡100 million ($135 million). Reliance revealed it had signed definitive agreements to acquire a 100% shareholding in the Sheffield-based company, while adding it would also invest ￡25 million as growth capital to accelerate the commercial rollout of Faradion's patented sodium-ion battery technology.