Reliance New Energy Solar to invest $50 million in battery storage firm Ambri
The Hindu
This is part of a $144 million investment that RNESL, strategic investors Paulson & Co. Inc., Bill Gates, and a few other investors, have committed to make in Ambri.
Reliance New Energy Solar Ltd. (RNESL), a wholly owned subsidiary of Reliance Industries Ltd. (RIL), has announced an investvmet of $50 million to acquire 42.3 million shares of preferred stock in Ambri Inc., an energy storage company based in Massachusetts, USA. This is part of a $144 million investment that RNESL, strategic investors Paulson & Co. Inc., Bill Gates, and a few other investors, have committed to make in Ambri. “The investment will help the company commercialise and grow its long-duration energy storage systems business globally,” RIL said in a statement.
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