Hindustan Zinc Ltd.’s shares rise on signing MoU with US based AEsir Technologies
Hindustan Zinc Limited’s shares were up by 4.41 per cent, after the company reported that, it signed a memorandum of understanding with US-based AEsir Technologies, Inc. to work in the battery storage sector. Under this agreement, Hindustan Zinc will be the preferred supplier of zinc for AEsir Technologies’ next-generation battery systems.
The company informed, Zinc-based batteries, are known for their cost-effectiveness, and lifespan of up to 20 years, they present an alternative for large-scale energy storage, in industrial applications. The MoU, aligns with Hindustan Zinc’s efforts, to explore new applications of zinc in clean energy transitions, leveraging the metal’s properties like corrosion resistance, recyclability, and environmental friendliness.
The company further informed, AEsir Technologies’ Nickel Zinc (NiZn) batteries, were used in sectors such as defence , renewable energy, and infrastructure, to address issues like electrolyte dry-out, and zinc migration, through improvement.
Arun Misra, CEO of Hindustan Zinc Limited, said, “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.”
The shares were up by 4.41 per cent to ₹676.20 at 12.46 pm on the BSE.