thenewsfacts.com
  • Home
  • Latest News
  • Trending News
  • Entertainment
  • Technology
  • Sports
  • Business
  • Health
thenewsfacts.comthenewsfacts.com
Font ResizerAa
Search
  • Home
  • Latest News
  • Trending News
  • Entertainment
  • Technology
  • Sports
  • Business
  • Health
Follow US
© thenewsfacts : All Rights Reserved.

Home » RIL, Bill Gates And Others To Boost Ambri Growth With $144 Million Investment

Business

RIL, Bill Gates And Others To Boost Ambri Growth With $144 Million Investment

TheNewsFacts
Last updated: August 10, 2021 5:00 pm
TheNewsFacts
Share
RIL, Bill Gates And Others To Boost Ambri Growth With $144 Million Investment
SHARE

US-based energy company Ambri Inc got an investment boost today. Reliance Industries Ltd’s (RIL) wholly-owned subsidiary Reliance New Energy Solar Ltd (RNESL), along with strategic investors Paulson & Co. Inc. and Bill Gates, and a few other investors, has announced an investment of $144 million into the energy storage company based in Massachusetts.

”The investment will help the company commercialise and grow its long-duration energy storage systems business globally. RNESL will invest USD 50 million to acquire 42.3 million shares of preferred stock in Ambri,” RIL said in an exchange filing.

“Reliance Industries sees this strategic partnership with Ambri as an important step in its journey of achieving its decarbonization goals. Our investment in Ambri is part of our broader plan to develop the Dhirubhai Ambani Green Energy Giga Complex, which will be amongst the largest integrated renewable energy manufacturing facilities in the world and the epicenter of India’s Green Economy movement,” stated Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd.

This financing supports the commercial growth of our company and technology – Ambri Chief Executive Officer says

“This financing supports the commercial growth of our company and technology,” said Dan Leff, Ambri Executive Chairman. “Further, these funds are instrumental to driving our efforts to scale the company’s operations and establish our manufacturing infrastructure to meet rapidly expanding customer demand. We are delighted that our newest shareholders, who are world class investors and strategic partners, are joining Ambri’s journey.”

Based on patented technology and designed to last between 4-24 hours, Ambri’s long-duration energy storage systems will break through the cost, longevity, and safety barriers associated with lithium-ion batteries used in grid-scale stationary storage applications. They will enable a crucial energy storage solution capable of supporting the increasing amounts of renewable energy being integrated into electric power grids, the statement added.

RNESL and Ambri are also in discussions for an exclusive collaboration to set up a largescale battery manufacturing facility in India, which could add scale and further bring down costs for Reliance’s green energy initiative.

TAGGED: Ambri Inc, Battery Business, Energy Startup, Energy Storage, RIL Bill Gates, RNESL, Startups
Share This Article
Twitter Email Copy Link Print
Previous Article New DGCA Caution on International Air Travel Bookings New DGCA Caution on International Air Travel Bookings
Next Article Big Delta Variant Surge in Austin Lead to ICU Crisis Big Delta Variant Surge in Austin Lead to ICU Crisis

Your Trusted Source for Accurate and Timely Updates!

We're committed to providing accurate and unbiased news as it unfolds, earning the trust of a large audience. Stay informed with our news updates on the latest events and trends, keeping you ahead of the curve.
FacebookLike
TwitterFollow
InstagramFollow

Popular Posts

Aus vs Ind 4th Test: Khawaja’s 104* puts India in tight spot

Aus Vs Ind 4th Test Day 1: Australia got off to a strong start in…

By TheNewsFacts

Zaheer Khan & Sagarika Hit a Parenting Six with Baby Fatehsinh

April 16, 2025: In the quiet rhythm of life beyond the stadium lights and red…

By NewsFacts Bureau

Fraser-Pryce donates Oregon22 100m singlet to Museum of World Athletics

The Museum of World Athletics has received the singlet that Shelly-Ann Fraser-Pryce wore during her…

By TheNewsFacts

You Might Also Like

Jane Street
Business

SEBI Drops Hammer on Jane Street: $566M in Illegal Gains

By NewsFacts Bureau
AM Green Group, Greenko
Business

AM Green Group 17.5% Stake in Greenko to Drive Upstream Integration

By TheNewsFacts
Venture Capital
Business

Venture Capital Investment Outlook Still Cloudy for 2025 in Startups

By NewsFacts Bureau
Meenakshi Alternates
BusinessLatest News

Meenakshi Group Unveils Rs. 700Cr “Meenakshi Real Assets Fund”

By NewsFacts Bureau
thenewsfacts thenewsfacts

About US


TheNewsFacts: Brings you the interesting facts, news facts and updates from India an the world across politics, tech, entertainment, business, tending, and more. We deliver what you love to read.
Top Categories
  • Latest News
  • Trending News
  • Paris Olympics 2024
  • Sports
  • Entertainment
  • Business
  • Technology
Usefull Links
  • About The News Facts
  • Latest News
  • Privacy Policy
  • Editorial Policy
  • Disclaimer
  • Contact Us
Follow us
Facebook Twitter Instagram

© thenewsfacts. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?