MoU between Hindustan Zinc ltd and AEsir Tech to develop next generation batteries
The MoU is in line with the company's efforts towards exploring emerging applications of zinc in the clean energy transition. Zinc batteries are revolutionizing energy storage due to their corrosion resistance, cost-effectiveness, recyclability, stability, and environmental friendliness.
ANI
Jun 21, 2024 14:34 IST
New Delhi [India], June 21 (ANI): Hindustan Zinc Limited (HZL), has signed a memorandum of understanding (MoU) with AEsir Technologies, a US-based company to develop the next-generation zinc batteries.
Under this MoU, Hindustan Zinc will be the preferred supplier of zinc, a key raw material for AEsir Technologies' next-generation batteries, the HZL informed the exchange in a filing on Friday.
According to the company, the Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and longer lifespans of up to 20 years. This makes them ideal for large-scale energy storage in industrial settings.
The MoU is in line with the company's efforts towards exploring emerging applications of zinc in the clean energy transition. Zinc batteries are revolutionizing energy storage due to their corrosion resistance, cost-effectiveness, recyclability, stability, and environmental friendliness.
"Zinc is integral to a low-carbon future. At Hindustan Zinc, our focus is to produce metals sustainably for applications that power the ongoing global energy transition. This partnership with AEsir Technologies is yet another step in our ongoing developmental work in the emerging clean technology space. By providing high-quality zinc for cutting-edge energy storage, we are opening sophisticated new avenues for environmentally friendly solutions for a greener tomorrow." said Arun Misra, CEO of Hindustan Zinc Ltd.
They offer broader temperature tolerance, and reliable backup power for extended periods (3-72 hours) compared to other metals. They are built with non-flammable materials, are non-reactive to air and water, and produce no toxic fumes, ensuring greater safety.
Additionally, Zinc-based batteries are recyclable, use non-hazardous raw materials, and have a greenhouse gas (GHG) footprint six times lower than other technologies.
"Energy storage is at the forefront of every major innovation in the energy transition space. Zinc batteries are the best story around energy storage. We are achieving great innovation in this space and this collaboration with Hindustan Zinc provides us with critical raw material for the development of next-gen Nickel Zinc batteries. We are pleased to partner with Hindustan Zinc as we are also focussed on the sustainability of our value chain, and they are global leaders in this domain" said Randy Moore, CEO & Co-Founder of AEsir Technologies
The world is witnessing a rapid evolution in the battery industry, driven by an essential need for sustainable energy storage solutions. (ANI)
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