A unit of Reliance Industries has acquired British battery maker Faradion for £100 million, the Indian firm said on Friday (31). 

Reliance New Energy Solar has signed definitive agreements to acquire 100 per cent shareholding in Faradion and will invest £25m to accelerate the commercial roll-out, the statement added.

Based in Sheffield and Oxford and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.

It has a competitively superior, strategic, wide-reaching and extensive IP portfolio, covering several aspects of sodium-ion technology.

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