Vedanta Nico inks pact with AEsir Technologies

30 Jul 2024 , 11:16 AM

Vedanta Nico, a subsidiary of Vedanta Ltd, announced on Monday that it has signed an agreement with US-based AEsir Technologies to supply nickel, a crucial component for next-generation batteries.

Nickel is significant in EV battery technology, notably in the cathode, where it increases energy density, power output, and battery longevity. Nickel-rich batteries, such as nickel-zinc versions, allow for faster charging, minimise cobalt reliance, and improve the entire value proposition of electric vehicles (EVs).

The global demand for nickel in batteries is expected to increase to 500,000 tonnes by 2025, up from 150,000 tonnes in 2020, owing to the growing EV market.

The International Energy Agency (IEA) predicts that the number of electric vehicles will increase from more than 10 million in 2020 to 145 million by 2030, driven by greater battery capacities, faster charging, and advances in cobalt reduction.

Vedanta Nico, India’s primary nickel producer, has inked a strategic Memorandum of Understanding (MoU) with AEsir Technology, Inc, a US-based inventor in breakthrough battery technology, according to a company release.

We are excited to collaborate with AEsir Technologies to develop a game-changing battery solution for critical infrastructure, 5G communications, and the electric vehicle sector. Our nickel production expertise, combined with AEsir’s revolutionary zinc battery technology, enables us to provide a solution that fits the industry’s growing needs. 

“This collaboration is consistent with our vision of contributing to a sustainable future through responsible mining and value-added products,” Vedanta Nico COO Prashuk Jain stated.

Vedanta Nico has joined forces to develop and commercialise cutting-edge nickel-zinc batteries for critical infrastructure, 5G telephony, and electric vehicle chargers, the company announced.

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