Reliance New Energy to buy Lithium Werks for Rs 468.2 cr

16 Mar 2022 CW Team

Reliance New Energy Limited (RNEL), a subsidiary of Reliance Industries Ltd (RIL), has signed a definitive agreement to acquire all assets of the Lithium Werks BV for a total transaction value of around Rs 468.2 crore, which includes funding for future growth.

Netherland-headquartered Lithium Werks is a major provider of cobalt-free as well as high-performance lithium iron phosphate (LFP) batteries. LFP batteries are the safest lithium battery type available in the market, and they offer a longer life span with zero maintenance. They are also lightweight among the others.

Chairman Mukesh Ambani said that LFP is fast gaining as a leading cell chemistries because of cobalt and nickel free batteries, with lower cost and longer life when compared with NMC and other chemistries.

He added that Lithium Werks is among the leading global LFP cell manufacturing companies having a vast patent portfolio along with a management team bringing in a tremendous experience of innovation across the LFP value chain.

This acquisition shall include the complete patent portfolio of Lithium Werks, their manufacturing facility located in China, prime business contracts, and the hiring of existing employees as a going concern.

Lithium Werks co-founder and CEO, Joe Fisher said that the deal indicates increased resources and expanded global reach with leveraging their skills and experienced team, expansion of capacity, acceleration of clean energy strategy.

Image Source

Also read: Reliance industries to raise $3 billion equity

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..