RIL has announced the investment in Ambri, along with Bill Gates, the largest shareholder, and other investors including TOTAL and Japan Energy Fund. RIL would be investing USD 50M in the $144M financing round, which Ambri would be using to build a manufacturing facility and commercialize its technology.
The investment by Reliance Industries (RIL) in liquid metal grid battery player Ambri and collaboration to set up manufacturing in India as part of its four giga-factories, should raise investor confidence in its new energy plans, according to Morgan Stanley.
“RIL and Ambri are in discussions for an exclusive collaboration to set up a large-scale battery manufacturing facility in India, which could add scale and further bring down costs for Reliance’s green energy initiative,” the investment bank said in a report.
Ambri, formed in 2010, is looking to commercialise its liquid metal grid battery technology by 2022, where Ambri can help lower costs by about half compared to lithium-ion batteries and also has a breakthrough in safety with rugged operating condition performance using its calcium and antimony.