Reliance New Energy Solar helped the renewable energy battery developer raise funding that will be used to expand its manufacturing capabilities.
Diversified conglomerate Reliance Industries co-led a $144m financing round for US-based grid battery technology developer Ambri on Monday through its Reliance New Energy Solar subsidiary.
The round was co-led by investment management firm Paulson & Co and also featured Fortistar, Goehring & Rozencwajg Associates, Japan Energy Fund and private investor Bill Gates.
Ambri produces liquid metal batteries used to store energy generated by renewable power installations for long durations. The technology was developed in the laboratory of its co-founder and…
