Under this MoU Hindustan Zinc will be the preferred supplier of zinc, a key raw material for AEsir Technologies' next-generation batteries. 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 upto 20 years.

The said 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. 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.

AESir’s Nickel Zinc (NiZn) batteries have proven dependable and successful in the high-end defence sector (including aerospace and marine), renewable energy and critical infrastructure for data centres and 5G telecom etc. Decades of continuous improvement at live locations have enabled AEsir’s NiZn batteries to eliminate historical issues like electrolyte dry-out, metal branching (dendrite growth), and zinc migration, it added.

Arun Misra, CEO, Hindustan Zinc, 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.”

Randy Moore, CEO & Co-Founder, AEsir Technologies, said, “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.”

Hindustan Zinc, a Vedanta Group company, is an integrated producer of zinc, lead and silver. As of September 2023, Vedanta held 64.92% stake in the company.

The company’s consolidated net profit fell 21.09% to Rs 2,038 crore in Q4 FY24 as compared with Rs 2,583 crore recorded in Q4 FY23. Revenue from operations during the quarter was Rs 7,285 crore, down 12.02% year on year.