Faradion (Reliance New Energy)

Faradion Limited was founded in 2011 in Sheffield, United Kingdom — making it one of the earliest dedicated sodium-ion battery companies anywhere in the world. The founding team drew on academic research from the University of Sheffield and St Andrews, focusing on layered transition metal oxide cathodes — specifically a nickel-manganese-magnesium-titanium oxide formulation — paired with hard carbon anodes. This chemistry delivers current commercial cells rated at 160 Wh/kg in 32 Ah pouch format with over 4,000 cycles to 80 percent capacity retention. Reliance Industries, the Indian conglomerate led by Mukesh Ambani, announced its acquisition of Faradion in January 2022, completing the transaction to 100 percent ownership in October 2024, at a total valuation of approximately $136 million with an additional $34 million committed as growth capital. Reliance New Energy's strategic rationale is clear: building a sodium-ion gigafactory in Jamnagar, India — the site of Reliance's enormous existing industrial complex — to supply sodium-ion cells to Indian EV manufacturers and grid storage projects at a time when India is aggressively reducing dependence on Chinese battery imports. Faradion's next-generation cell design, under development in Sheffield, targets energy density exceeding 190 Wh/kg — which would make it the highest-energy-density sodium-ion commercial cell announced by any Western producer. The technology's layered oxide cathode is not cobalt-free in all variants, but Faradion's roadmap moves toward reduced critical mineral content. With Reliance's financial backing, manufacturing scale, and India's enormous EV market at its disposal, Faradion's role as the technology licensor for a gigawatt-scale Indian sodium-ion industry represents a long-term competitive position that no other Western sodium startup currently possesses.