Hindustan Zinc’s Strategic MoU with AESir Technologies

Hindustan Zinc Limited (HZL) informed in a stock exchange filing that it has entered into a Memorandum of Understanding (MoU) with AEsir Technologies, Inc., a US-based company specialising in advanced zinc battery technologies.

According to the MoU, Hindustan Zinc will be the primary supplier of zinc, a critical raw material for AEsir Technologies’ next-generation batteries. These zinc-based batteries offer a compelling alternative to contemporary energy storage solutions, providing greater power efficiency at reduced costs, requiring minimal maintenance, and boasting extended lifespans of up to 20 years. These attributes make them particularly suitable for large-scale energy storage applications in industrial environments.

The company stated that this MoU aligns with its strategy to explore new applications of zinc in the transition to clean energy.

Zinc batteries are transforming energy storage with their resistance to corrosion, cost-efficiency, recyclability, stability, and eco-friendliness. Compared to alternative metals, they offer wider temperature tolerance and provide reliable backup power for extended durations (3-72 hours). Constructed from non-flammable materials, they are inert to air and water and emit no toxic fumes, ensuring enhanced safety. Moreover, zinc-based batteries are recyclable, utilise non-hazardous materials, and boast a greenhouse gas (GHG) footprint six times lower than that of other technologies.

AESir’s Nickel Zinc (NiZn) batteries have demonstrated reliability and success in premium sectors such as defence (including aerospace and marine), renewable energy, and critical infrastructure such as data centres and 5G telecommunications. Continuous improvement over decades in operational environments has allowed AESir’s NiZn batteries to resolve long-standing issues such as electrolyte dry-out, metal dendrite growth, and zinc migration.

Commenting on this partnership, the CEO of Hindustan Zinc Limited, Arun Misra, 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 CEO and Co-Founder of AEsir Technologies, Randy Moore, 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.”

On June 21, 2024, the share price of Hindustan Zinc Ltd opened at ₹652.30, touching the day’s high at ₹684.00, as of 12:29 PM on the NSE.

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