Who owns Faradion Limited?

Reliance New Energy Solar Ltd (“RNESL”), a wholly owned subsidiary of Reliance Industries Ltd (“Reliance”), has today signed definitive agreements to acquire 100% shareholding in Faradion Limited (“Faradion”) for an enterprise value of £100 million. In addition, RNESL will also invest £25 million as growth capital to accelerate commercial roll out.

Where is Faradion based?

Faradion, with its headquarters at the Innovation Centre in Sheffield, has gathered a team of experts in the battery industry. We're delighted to be featured in this article in Newsweek: 'A global energy transition is underway to reduce our reliance on fossil fuels.'

Who owns Faradion battery?

Reliance initially announced its interest in Faradion in December 2021, with the acquisition valued at £100 million with RNESL investing £25 million as growth capital in the company. Based out of Sheffield and Oxford in the UK, Faradion provides access to high density, sustainable, and competitive-cost battery technology.

Who founded Faradion?

Dr Chris Wright, Chairman and Co-Founder of Faradion, said: “Dr Jerry Barker, Ashwin Kumaraswamy and I founded Faradion in 2010 to develop sodium-ion technology and bring it to market, with funds from Mercia Asset Management.

What is the current valuation of Faradion?

The current valuation of Faradion is 00000. What is Faradion’s current revenue? The current revenue for Faradion is 00000. How much funding has Faradion raised over time? Faradion has raised $9.7M. Who are Faradion’s investors?

Did RNel acquire Faradion?

"RNEL has informed the Company that it has on October 28, 2024 acquired the balance equity stake from the existing shareholders of Faradion. With this acquisition, Faradion has now become a wholly-owned subsidiary of RNEL," Reliance Industries announced on Tuesday, October 29.