The MoU is the first step in advancing Ambri and Reliance’s strategic partnership to develop and manufacture Ambri’s batteries in India.
Reliance has set an ambitious target of achieving net-zero carbon by 2035 and has committed to invest more than $10 billion in its new energy business spanning hydrogen, wind, solar, fuel cells, and batteries. Ambri batteries’ unique chemistry utilizing commonly available, recyclable materials is an attractive solution for Reliance’s stated objective.
“As an investor, we have helped support Ambri’s work to produce and scale a superior and reliable energy storage solution because we believe in the company and its technology. One of our goals in investing in Ambri was that someday we would have the opportunity to harness Ambri’s technology to help us achieve our goals to deliver cost competitive round-the-clock power,” said Sanjay Mashruwala, Director, Reliance New Energy Ltd, a wholly owned subsidiary of Reliance Industries Ltd. “This memorandum of understanding paves the way for us to engage in discussions for testing and installation of Ambri’s demo installation at Jamnagar, India and further progress our joint development work to set up large-scale manufacturing of Ambri systems in India.”
The Ambri system will ship by mid-2023 and is set for commissioning immediately thereafter.
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