Nickel Supply Pact Signed Between Vedanta Nico & AEsir Technologies

Vedanta Nico, a subsidiary of Vedanta Ltd, has recently declared a partnership with US-based Aesir Technologies, INC to supply nickel, an essential component for next-generation batteries. Nickel plays a vital role in EV battery technology, particularly in the cathode, enhancing energy density, power output, and battery lifespan. Nickel-rich batteries, such as nickel-zinc variants, enable fast charging, reduce dependence on cobalt, & improve the overall value proposition of electric vehicles (EVs).

Global demand for nickel in batteries is expected to rise dramatically, from 150,000 tons in 2020 to 500,000 tons by 2025, driven by the growing EV market. The International Energy Agency (IEA) forecasts that the number of electric cars will increase from over 10 million in 2020 to 145 million by 2030, driven by larger battery capacities, faster charging, and advancements in reducing cobalt use.

"Vedanta Nico, India's premier nickel producer, has signed a strategic Memorandum of Understanding (MoU) with AEsir Technologies, Inc., a US-based leader in advanced battery technologies," Vedanta Nico stated. Vedanta Nico and AEsir Technologies will work together to develop & commercialize cutting-edge nickel-zinc batteries for critical infrastructure, 5G telecom, and EV chargers.

"We are thrilled to partner with AEsir Technologies to create a transformative battery solution for critical infrastructure, 5G telecom, and the EV market. Our expertise in nickel production, combined with AEsir's innovative zinc battery technology, positions us to deliver products that meet the evolving needs of the industry. This collaboration aligns with our vision of contributing to a sustainable future through responsible mining & value-added products," said Vedanta Nico COO Prashuk Jain.