Freshfields advises Reliance Industries on its strategic investment in Ambri Inc.
Freshfields advised Reliance New Energy Solar Limited (“RNES”), a wholly-owned subsidiary of Reliance Industries Limited (“Reliance”), on its strategic investment in Ambri Inc. (“Ambri”). Ambri’s financing round was jointly led by RNES and Paulson & Co., Inc., and included participation from existing investor Bill Gates, among others. Ambri, based in Boston, Massachusetts, is developing long-duration battery technology systems, and will use the proceeds from the financing to design and construct high-volume manufacturing facilities in the US and internationally. More information about the transaction can be found here.
Reliance is India’s largest private sector company, with activities spanning hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
The Freshfields team included partner Menachem Kaplan, senior associate Scott Blumenkranz and associates Danny Spencer and Alex Canahuate.
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