Reliance, a strategic investor in Ambri, is purchasing an Ambri pilot system as part of a its broader Energy Storage System manufacturing plans and deployments in India
MARLBOROUGH, Mass.--(BUSINESS WIRE)--Ambri, a provider of long-duration energy storage systems, today announced a memorandum of understanding to deliver a pilot system to Reliance Industries Limited. As the largest private-sector corporation in India and a multinational conglomerate, Reliance is considering enabling and establishing 100 GW of solar generation capacity and has announced setting up of giga scale battery manufacturing to support round the clock and firm power supported by reliable, clean, and affordable energy.
�Reliance plays a major role in India�s economic and energy future, and its commitment to address climate change meaningfully is noteworthy, especially given the country�s importance in solving this global challenge. Ambri is proud to further strengthen this longstanding relationship with one of our strategic investors to support the increased integration of renewable energy resources and energy storage into their facilities,� said Dan Leff, Executive Chair at Ambri.
Reliance has set an ambitious target of achieving net-zero carbon by 2035 and has committed to invest more than USD $10 billion to secure the promise of a sustainable future for generations to come with a mix of energy solutions that leverage hydrogen, wind, solar, fuel cells, and batteries at their own facilities. Ambri batteries� unique chemistry utilizing commonly available, recyclable materials is an attractive solution, for Reliance�s stated objectives.
�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 Mr. Sanjay Mashruwala, Director, Reliance New Energy Limited, a wholly owned subsidiary of Reliance Industries Limited. �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 MOU announced today is the first step in advancing Ambri and Reliance�s strategic partnership. The system will ship by mid-2023 and is set for commissioning immediately thereafter. This MOU is further to the strategic partnership agreement signed between Reliance and Ambri last year providing 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.
About Ambri
Ambri�s Liquid Metal� battery technology solves the world�s biggest energy problems, fundamentally changing the way power grids operate by increasing the contribution from renewable resources and reducing the need to build traditional power plants. Ambri�s long-duration energy storage solution is built for daily cycling, even in extreme, harsh environments. With a lifespan of 20+ years with minimal fade, Ambri systems are not only extremely reliable but also safe, as Ambri systems do not produce or emit any gases and there is no possibility for thermal runaway. For more information visit: www.ambri.com.
About Reliance Industries
Reliance is India�s largest private sector company, with a consolidated turnover of INR 792,756 crore (US$104.6 billion), and net profit of INR 67,845 crore ($9.0 billion) for the year ended March 31, 2022. Reliance�s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. Reliance is the top-most ranked company from India to feature in Fortune�s Global 500 list of �World�s Largest Companies�. It features among LinkedIn�s �The Best Companies to Work For In India� (2022). For more information visit: www.ril.com.
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