Cuncolim, Goa, 23rd July 2024: Vedanta Nico, India’s sole nickel producer, has signed a strategic Memorandum of Understanding (MoU) with AEsir Technologies, Inc., a US-based innovator in advanced battery technologies. This collaboration aims to develop and commercialize cutting-edge Nickel-Zinc (NiZn) batteries for critical infrastructure, 5G telecom and electric vehicle chargers(EVC), positioning both companies at the forefront of the global shift towards sustainable energy.

Under the MoU, Vedanta Nico will be the preferred supplier of nickel, a critical component in AEsir Technologies’ next-generation batteries. Nickel-Zinc batteries promise substantial advantages over current battery technologies, including higher energy density, power, enhanced cost efficiency, rapid charging and superior performance, making them ideal for the rapidly growing energy storage market.

Nickel plays a crucial role in EV battery chargingtechnology, particularly in the cathode, where it enhances energy density, power output, and battery lifespan. Nickel-rich batteries, such as Nickel-Zinc variants, offer best in class fast charging, reduce reliance on cobalt, and improve overall EV value proposition. The global demand for nickel in batteries is projected to surge from 150,000 tonnes in 2020 to 500,000 tonnes by 2025, driven by the expanding EV market adoption. The International Energy Agency (IEA) forecasts that the number of electric cars will rise from over 10 million in 2020 to 145 million by 2030, spurred by larger battery capacities, faster charging and advancements in reducing cobalt use.

Hindustan Zinc, a subsidiary of Vedanta Limited and a sister company of Vedanta Nico, and the world’s second-largest zinc producer, will support this collaboration. Hindustan Zinc's expertise in sustainable mining practices and commitment to a low-carbon future align perfectly with the objectives of this partnership, strengthening the supply chain for AEsir Technologies' Nickel-Zinc batteries.

Prashuk Jain, COO – Vedanta Nico, highlighted the significance of the collaboration with AEsir Technologies, stating, “We are thrilled to partner with AEsir Technologies to create a game-changing battery solution for the critical infrastructure, 5G telecom and EV fast chargingmarket. 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. This collaboration aligns with our vision of contributing to a sustainable future through responsible mining and value-added products.”

This groundbreaking collaboration demonstrates Vedanta Nico's crucial role in catering to the increasing demand for alternative energy solutions by being an active contributor of critical raw materials for the development of emerging clean technologies. As the world pivots towards a greener future, this partnership with AEsir Technologies portends far-reaching implications for innovative energy storage solutions that promise a safer, cleaner, and more sustainable tomorrow.

Adding his views, Randy Moore, CEO & Co-Founder of AEsir Technologies, said, “Energy storage is at the forefront of innovation in the energy transition. Nickel-Zinc batteries represent a low-cost, sustainable, safe alternative to lead acid and lithium in the markets we serve. Our collaboration with Vedanta Nico provides critical raw material for the development of these next-gen batteries, supporting our commitment to sustainability.”



This partnership marks a significant step towards advancing battery technology and underscores Vedanta Nico and AEsir Technologies' commitment to driving innovation in sustainable energy solutions.