Reliance Industries Ltd’s wholly-owned subsidiary Reliance New Energy Solar Ltd (RNESL), Bill Gates, Fortistar, Goehring & Rozencwajg Associates, Japan Energy Fund, and others have invested a total of $144 million in Massachusetts-based energy company, Ambri Inc.
According to an official statement, RNESL will invest $ 50 million to acquire 42.3 million shares of preferred stock in Ambri. Both parties are in talks for an exclusive collaboration to set up a large scale battery manufacturing facility in India to help add scale and bring down costs for Reliance’s green energy initiative. Ambri and Reliance are planning to set up a large scale battery manufacturing facility in India.
