The Firms Reliance Bet On For Storage and Cell Manufacturing

One of the largest private sector corporations in India and a multinational conglomerate, Reliance Industries Ltd. has shown a growing interest in the energy storage sector. Reliance New Energy Limited, a subsidiary firm, designated for its clean energy bentures has been busy – acquiring, signing agreements, or investing in firms. Be it Netherlands based LithiumWerks, UK’s Faradion, or Liquid metal battery maker Ambri in the US, not to forget EPC major Sterling and Wison Renewable Energy in India or electrolyser maker Stiesdal.

With a target of achieving net-zero carbon by as early as 2035 the company has a medium term plan of investing $10 billion to set itself on the path to achieve these goals.

Reliance’s turnover of Rs 792,756 crore (US$104.6 billion), and a net profit of Rs 67,845 crore ($9.0 billion) for the year ended March 31, 2022 also gives it the financial heft and experience to be among the few firms who can think big. The group’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, and digital services. To expand its capabilities in new energy, Reliance undertook acquisitions and investments totalling more than Rs 5,500 crore during FY22.

Reliance scaled up its solar and battery ambitions as it aims to begin production at its 10 GW factory for solar cells and modules by 2024. It plans to double the facility’s capacity to 20 GW by 2026 and is aiming for 50 GWh of annual cell-to-pack battery capacity by 2027.

Ambri

Ambri has made its name as a significant energy storage system provider providing its technology to the likes of Microsoft. The largest cloud service provider selected Ambri’s technology as part of its journey to 100 per cent renewable energy commitment as the firm looks to move away from diesel generation as a backup energy source for its data centres. Schneider Electric will be providing its industry-leading uninterruptible power supply (UPS).

In August this year, the energy provider Xcel Energy also opted for Solar Technology Acceleration Center (SolarTAC) demonstrating Ambri’s energy storage technology. The company broadened its manufacturing operations as it opened up its new facility in Milford, Massachusetts. With that, the company is on its way to growing in size and scope, bringing its battery systems to commercial markets.

Lithium Werks

Lithium Werks has over 30 years of battery expertise and nearly 200 MWh annual production capacity including coating, cell, and custom module manufacturing capability. It is a cobalt-free lithium battery technology and manufacturing company, with operations in the US, Europe, and China, and customers worldwide. Quite simply, LithiumWerks developed technology innovations in manufacturing will possibly be key to Reliance manufacturing at scale, and at a price that will make it globally competitive with Chinese manufacturers.

Faradion

The most important milestone for this UK firm, after getting acquired by Reliance for $135 million, is the successful installation of the first Faradion’s sodium-ion battery at a trail site in Yarra Valley in New South Wales, Australia. The company produces sodium ion batteries which are ideal for stationary storage applications as well as for e-scooters and e-bikes.

The company demonstrated the first sodium-ion battery-powered vehicle launching its e-bike battery demonstrator in collaboration with Williams Advanced Engineering and Oxford University. Earlier this year, the firm got recognition for Exceptional Performance by the British Private Equity and Venture Capital Association’s Vision 2022 initiative as a first mover in an area that will lead to cheaper and cleaner energy provision.

Reliance aims to produce giga-scale sodium-ion batteries in India based on Faradion’s technology. Faradion claims to have a wide-ranging patent position relating to sodium-ion batteries, including eight families of patents that cover cell materials, cell infrastructure, and safety and transportation. Reliance aims to exploit this as it plans to produce giga-scale sodium-ion batteries based on Faradion’s technology in India and beyond.

 

At Sterling and Wilson Renewable Energy, expect some major announcements soon on possible GW sized projects that will serve internal energy needs for the group as a whole. The firm has already shed plans to get into waste to energy projects in favour of a sharper focus on solar projects.