Reliance New Energy Solar to invest in U.S. based Energy Storage Firm Ambri Inc.

"We will collaborate with global leaders in battery technology to achieve the highest reliability," says Mukesh Ambani

Reliance New Energy Solar to invest in U.S. based Energy Storage Firm Ambri Inc.
Source: Twitter/ @Reliancegroup @Ambri

Reliance New Energy Solar Ltd (RNESL) has signed to invest $50 million in Ambri Inc., an energy storage firm based in Massachusetts to purchase $42.3 million preferred stock shares.

RNESL will be investing a total of $144 million in Ambri, alongside strategic investors Paulson & Co. Inc. and Bill Gates, as well as a few other investors. The investment is said to be used to assist the company commercialize and expand its long-term energy storage solutions business around the world.