- The venture is working on long-duration energy storage applications
- Company also discussing large-scale battery manufacturing facility in India
(AF) Mukesh Ambani’s Reliance New Energy Solar Ltd (RNESL), Paulson & Co. Inc and Bill Gates are among investors pumping $144 million into Ambri Inc, a Massachusetts, US-based energy storage company, its parent Reliance Industries Ltd announced on Monday.
The objective of the venture is to help Ambri commercialise and grow its long-duration energy storage systems business globally, it added. RNESL and Ambri are also in discussions to set up a large-scale battery manufacturing facility in India to add scale and reduce costs for Reliance’s green energy initiative, RIL said.