Paulson and Co. Inc

Reliance New Energy Solar Ltd And Bill Gates to Invest in Ambri- USA Based Energy Storage Company

The company said that RNESL will invest USD 50 million to acquire 42.3 million shares of preferred stock in Ambri. "Based on patented technology and designed to last between 4-24 hours, Ambri's long-duration energy storage systems will break through the cost, longevity and safety barriers associated with lithium-ion batteries used in grid-scale stationary storage applications. They will enable a crucial energy storage solution capable of supporting the increasing amounts of renewable energy being integrated into electric power grids," it stated.