Ambani progresses with electro-chemical technologies project
Reliance New Energy Solar Ltd (RNESL) is in discussions with Massachusetts-based energy storage company Ambri Inc for an exclusive collaboration to set up a large-scale battery manufacturing facility in Jamnagar which could further bring down costs for Reliance’s green energy initiative under the Government-initiated climate and environment programme.
This was disclosed on 10 Aug 2021 along with RNESL’s US$50 million investment to acquire 42.3 million shares of preferred stock of Ambri Inc by Reliance Industries Chairman Mukhesh Ambani.
Addressing shareholders in June this year, Ambani had announced plans to build a Giga Factory in port city of Jamnagar for the storage of intermittent energy, as part of the Dhirubhai Ambani Green Energy Giga Complex project.
“We are exploring new and advanced electro-chemical technologies that can be used for such large-scale grid batteries to store the energy that we will create. We will collaborate with global leaders in battery technology to achieve the highest reliability for round-the-clock power availability through a combination of generation, storage, and grid connectivity,” Ambani had announced.
RNESL, a wholly owned subsidiary of Reliance Industries Ltd, is making the investment along with strategic investors Paulson & Co and Bill Gates, and a few other investors. A total of US$144 million is being invested to help Ambri commercialise and grow its long-duration energy storage systems business globally.
Based on patented technology and designed to last between 4-24 hours, Ambri’s long- duration energy storage systems will break through the cost, longevity and safety barriers associated with lithium-ion batteries used in grid-scale stationary storage applications.
They will enable a crucial energy storage solution capable of supporting the increasing amounts of renewable energy being integrated into electric power grids.
Ambri can cater to projects that require energy storage systems from 10 MWh to over 2 GWh. The company will manufacture calcium and antimony electrode-based cells and containerised systems that are more economical than lithium-ion batteries, capable of operating safely in any climatic condition without requiring supplemental air conditioning and meant to last for over 20 years with minimal degradation.
Ambri systems are particularly suited for high-usage applications, such as shifting energy from daytime solar generation to evening and morning peak load times. The company is securing customers for large-scale projects with commercial operation in 2023 and beyond.
Ambri has developed and is commercializing a new, long-duration battery technology that will enable widespread use of renewable energy sources, reduce electricity costs, and enable power systems to operate more reliably and efficiently. The liquid metal battery project began at MIT in the lab of Professor Donald Sadoway, and the company was formed in 2010 when the project achieved significant technical breakthroughs. Prior to this capital raise, Ambri’s investors included Bill Gates, Khosla Ventures, KLP Enterprises, TOTAL SE and GVB.
New York-headquartered Paulson & Co Inc, founded in 1994, is a private investment management firm investing in public and private market securities across different sectors and industries. #investment #energy #OPEC #manufacturing /fiinews.com
