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Memorandum of Understanding (MoU)

Investment deal signed for batteries and EVs plant in Andhra Pradesh

Thu, 03/07/2019 - 11:52 -- John Shepherd
J. Krishna Kishore (left) signs the MOU with Urja Global’s director and chief financial officer Avinash Kumar Agarwal.

Indian Renewables developer Urja Global is investing the equivalent of US$28 million to build a combined electric vehicle and lithium-ion battery manufacturing plant in the state of Andhra Pradesh.

Urja’s has signed a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to build the facility in one of three shortlisted cities— Anantapur, Nellore, and Chittoor.

The APEDB said the plant will produce “high technology lithium-ion Batteries and EVs for the electric mobility ecosystem”.

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Battery giants back Korean R&D investment fund

Wed, 12/19/2018 - 00:00 -- John Shepherd
Yunmo Sung

Three South Korean battery giants have signed up to an agreement to support the launch of a government-backed “next-generation batteries investment fund”.

Samsung SDI, LG Chem and SK Innovation have signed a memorandum of understanding (MOU) to support the KRW1 billion (US$885,000) fund, the Ministry of Commerce, Industry and Energy (MOCIE) said.

The signing comes a year after South Korea’s government said it would support plans to expand domestic battery production and challenge China’s increasing dominance of the global market.

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Historic moment as flow battery and vanadium companies signs MoU

Mon, 07/25/2016 - 11:59 -- Paul Crompton
Historic moment as flow battery and vanadium companies signs MoU

US flow battery maker Vionx Energy has entered into a nonbinding memorandum of understanding (MoU) with Canadian vanadium producer Largo Resources.

The MOU outlines the principal terms upon which Vionx will base a final deal in which it will use Largo’s vanadium electrolyte in its Vanadium Redox Battery (VRB) systems.

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