RCS - Faradion - PE & VC Body Recognises Faradion

Reliance IndustriesAnnouncement

23/05/2022 17:00

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RNS Number : 4862M  Faradion  23 May 2022

Faradion, World Leader in Sodium-ion Battery Technology Recognised for Exceptional Performance by British Private Equity and Venture Capital Association's Vision 2022 Initiative

The British Private Equity & Venture Capital Association (BVCA), the
industry body and public policy advocate for the private equity and venture
capital industry in the UK recognises Faradion (https://faradion.co.uk/) , the
world leader in sodium-ion battery technology, in its Vision 2020 initiative.

The prestigious Vision 2022 Series, in association with Grant Thornton,
recognises the best management teams backed by private equity and venture
capital, with judging criteria including growth, competitiveness, innovation
and ESG factors. The Vision 2022 Judges recognises the Faradion team's success
and identified Faradion as being a first mover in an area that will lead to
cheaper, cleaner energy provision, their growth story and the firm's
continuous innovation.

Faradion based out of Sheffield and Oxford in the UK has been supported by
venture capital firm, Mercia Asset Management, since early 2017. Its
sodium-ion technology provides significant advantages compared to lithium-ion
technology, including greater sustainability, safe transport and storage
capability, and exciting opportunity for scalability. Reliance New Energy
acquired Faradion in December 2021 and will incorporate Faradion's technology
at its proposed fully integrated energy storage giga-factory in Jamnagar,
western India.

James Quinn, CEO, Faradion says, "We are very proud to receive this
recognition from the prestigious Vision 2022 Series, which go towards
validating the incredible work our team has done in advancing sodium-ion
technology and crucially recognises our commitment to ESG. Faradion has been
one of the first to champion sodium-ion battery technology. Mercia was an
early investor in Faradion and held a position on the board since its
inception and up until the acquisition by Reliance in December 2021. Becoming
part of the Reliance group endorses the incredible work our team has done in
advancing sodium-ion technology. Sodium-ion batteries offer the UK an
opportunity to take a global market-leading role. By building on current
advantages, the UK can establish a large-scale domestic manufacturing
capability creating new jobs, as well as economic benefits across the wider
supply chain."

Michael Moore, BVCA Director General, says, "Private equity and venture
capital are supporting businesses across Yorkshire and Northeast England to
innovate, grow, create jobs, and bring value to the communities they operate
within. The companies recognised are leading examples of how a business can
grow with the funding, business expertise and hands-on management approach
synonymous with private capital."

 

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PRESS IMAGES:

 

https://pressat.co.uk/releases/faradion-world-leader-in-sodium-ion-battery-technology-recognised-for-exceptional-performance-by-british-private-equity-and-venture-capital-associations-vision-2022-initiative-767ae62d6b27fa36f22e438352bc11e0/
(https://pressat.co.uk/releases/faradion-world-leader-in-sodium-ion-battery-technology-recognised-for-exceptional-performance-by-british-private-equity-and-venture-capital-associations-vision-2022-initiative-767ae62d6b27fa36f22e438352bc11e0/)

 

PRESS CONTACT:

 

Serendipity PR & Media Ltd

+447786542776

sangeeta@serendipitypr.co.uk

http://serendipitypr.co.uk/ (http://serendipitypr.co.uk/)

@SangeetaWaldron on Twitter

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