Vedanta Nico Signs Nickel Supply Pact with US-Based AEsir Technologies

By siliconindia  |  Monday, 29 July 2024, 16:04 IST

Vedanta Nico Signs Nickel Supply Pact with US-Based AEsir Technologies
Vedanta Nico, a subsidiary of Vedanta Ltd, announced that it has entered into a strategic agreement with US-based AEsir Technologies for the supply of nickel, a critical component in next-generation battery technologies. This partnership aims to support the burgeoning demand for electric vehicle (EV) batteries, which benefit from nickel's role in enhancing energy density, power output, and battery lifespan, especially in nickel-rich variants like nickel-zinc batteries.
Nickel-rich batteries are favored for their fast charging capabilities, reduced reliance on cobalt, and overall improved value proposition for electric vehicles. The global demand for nickel in batteries is expected to surge from 150,000 tonnes in 2020 to 500,000 tonnes by 2025, driven by the expanding adoption of EVs.
According to the International Energy Agency (IEA), the number of electric cars is projected to rise from over 10 million in 2020 to 145 million by 2030, fueled by advancements in battery capacity, charging speed, and reduced cobalt usage.
"Vedanta Nico, India's primary nickel producer, has signed a strategic Memorandum of Understanding (MoU) with AEsir Technologies, Inc, a US-based innovator in advanced battery technologies", Vedanta Nico stated.
The collaboration aims to develop and commercialize cutting-edge nickel-zinc batteries for critical infrastructure, 5G telecom, and EV chargers. Vedanta Nico COO Prashuk Jain expressed enthusiasm about the partnership, stating, "We are thrilled to partner with AEsir Technologies to create a game-changing battery solution for the critical infrastructure, 5G telecom, and EV market. Our expertise in nickel production, coupled with AEsir's innovative zinc battery technology, positions us to deliver a product that meets the evolving needs of the industry".
Jain added that the collaboration aligns with Vedanta Nico's vision of contributing to a sustainable future through responsible mining and value-added products. This partnership highlights Vedanta Nico's commitment to advancing technology and sustainability in the growing EV and battery markets.

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