
Reliance New Energy Limited, an associate of Reliance Industries Ltd, on Monday announced that it has got all of the assets of Lithium Werks BV for USD 61 million, comprising allocation for coming development.
The assets comprise of the entire patent portfolio of Lithium Werks, production units in China, key business treaties and hiring of current employees as a going problem.
With the revival in the need for Lithium Iron Phosphate batteries and Lithium Werks’ integrated portfolio of LFP solutions, Reliance intends to take the goal of global chances before it.
“The collection of Lithium Werks with Reliance’s lately announced gain of Faradion Limited, a global leader in sodium-ion cell chemistry, further enhances Reliance’s technology portfolio and provides one of the world’s leading portfolio of LFP patents and a management team with huge experience of creation in cell chemistry, custom modules, packing, and building large scale battery manufacturing facility,” told Reliance.
It announced it will be leveraging the experience of senior management teams, together with the technology and know-how increased through the accession of Faradion Limited and Lithium Werks, to organize an end-to-end battery ecosystem.
This will enable Reliance to deliver not only manufacturing at a big scale certain key supply chain substances, such as cathode, anode, electrolyte, but also a cell manufacturing facility comprising of leading IOT/AI capabilities.
“LFP is fastly increasing as one of the leading cell chemistries due to its cobalt and nickel free batteries, low cost and extended existence compared to NMC and other chemistries. Lithium Werks is one of the prominent LFP cell manufacturing firms globally and has a vast patent portfolio and a management committee which generates tremendous experience of innovation across the LFP value chain,” announced Mukesh Ambani, chairman of RIL.
He announced that along with Faradion, Lithium Werks will allow RIL to stimulate our conception of establishing India at the core of developments in global battery chemistries and enable us to give a secure, safe and high-performance supply chain to the large and developing Indian EV and energy storage markets.