Vedanta Nico partners Aesir Tech to develop nickel-zinc batteries for EVs

Vedanta Nico, India’s primary nickel producer, has signed a strategic Memorandum of Understanding (MoU) with AEsir Technologies, a US-based innovator in advanced battery technologies. Building on Hindustan Zinc’s existing collaboration, Vedanta Nico has now joined forces to develop and commercialise cutting-edge nickel-zinc (NiZn) batteries for electric vehicle chargers as well as critical infrastructure and 5G telecom.

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 and EV market. Nickel plays a crucial role in EV battery technology, 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 the 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, which is the world’s second largest integrated zinc producer, has also recently signed a MoU with AEsir Technologies for the supply of zinc for these new-age 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 market. 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.”

Randy Moore, CEO and co-founder, Aesir Technologies, said: “Energy storage is at the forefront of innovation in the energy transition. Nickel-zinc batteries represent a low-cost, sustainable, and safe alternative to lead-acid and lithium batteries in the markets we serve. Our collaboration with Vedanta Nico provides critical raw materials for the development of these next-gen batteries, supporting our commitment to sustainability.”