Reliance Industries Ltd, under the leadership of Mukesh Ambani, is taking significant strides towards embracing clean energy solutions with its innovative swappable and multipurpose battery storage technology. At a recent renewable energy exhibition, Reliance showcased these cutting-edge batteries, designed not only for electric vehicles (EVs) but also for powering household appliances through an inverter.
These removable and swappable batteries represent a game-changing approach to clean energy adoption. Users can employ a single battery for their mobility needs as well as to power appliances in their homes, offering versatility and sustainability in one package. Reliance aims to facilitate the swapping of these batteries at designated stations or their recharging through rooftop solar panels, which the company also plans to market.
Reliance Industries’ foray into battery storage solutions is a pivotal part of its ambitious $10 billion green initiative aimed at expanding its clean energy projects. The company has set a goal to reduce its reliance on its core oil-to-chemical business and achieve carbon neutrality by 2035.
Two years ago, at Reliance Industries’ Annual General Meeting (AGM) in 2021, Mukesh Ambani revealed plans to invest Rs 75,000 crore over three years to establish a new clean energy business. As part of this vision, the company made strategic acquisitions in the battery sector, including UK-based Faradion, known for its sodium-ion batteries, and Lithium Werks, a producer of lithium iron phosphate (LFP) batteries.
The merger of Lithium Werks with Reliance’s acquisition of Faradion has bolstered Reliance’s technological portfolio, granting access to a vast collection of LFP patents and a highly experienced management team proficient in cell chemistry, custom modules, packaging, and large-scale battery manufacturing.
Reliance also secured an incentive in the previous year to establish a 5 gigawatt hours (GWh) battery manufacturing facility as part of India’s $2.4 billion program aimed at enhancing local battery cell production. This facility, scheduled to be operational by 2026, will manufacture batteries and containerized energy storage solutions.
During the 46th Annual General Meeting (AGM) in 2023, Mukesh Ambani announced the company’s ambitious plans to establish a giga factory for batteries by 2026. This giga battery facility will encompass the entire battery production ecosystem, from battery chemicals and cells to packs and containerized energy storage systems. The initial focus will be on LFP (lithium iron phosphate) chemistry, renowned for its safety, stability, and extended lifespan. Additionally, Reliance aims to fast-track the commercialization of its sodium-ion battery technology and scale up production to megawatt levels by 2025, with further expansion to giga scale in the future.
At the recent exhibition, Reliance showcased LFP chemistry-based batteries, reaffirming its commitment to pioneering sustainable energy solutions in India and beyond.
