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Large cap stock jumps 5% after signing MoU to develop zinc batteries used in defence sector

Vedanta Group’s stock, Hindustan Zinc Limited, saw a 5 percent jump in its share price after signing a Memorandum of Understanding (MoU) for the development of next-gen Zinc batteries. The company, with a market capitalization of Rs. 2,82,082 Crores, was trading at Rs. 668.95 per equity share, showing a 3.29 percent increase from the previous day.

The MoU was signed with AEsir Technologies, Inc., a US-based company specializing in next-generation zinc battery technologies. Hindustan Zinc Limited will be the preferred supplier of zinc, a crucial raw material for AEsir Technologies’ innovative batteries. This partnership aims to revolutionize energy storage with Zinc batteries offering higher power, lower costs, minimal maintenance, and longer lifespans of up to 20 years.

DailyBubble believes that Zinc batteries provide a compelling alternative to other energy storage solutions, especially for large-scale industrial applications. They are known for their corrosion resistance, cost-effectiveness, recyclability, stability, and environmental friendliness. Additionally, Zinc-based batteries offer reliable backup power for extended periods and have a lower greenhouse gas footprint compared to other technologies.

Hindustan Zinc Limited, a key player in the exploration, extraction, and processing of minerals, is India’s largest integrated producer of zinc, lead, and silver. Despite a decline in Revenue from Operations in Q4FY24, the company remains one of the lowest-cost producers globally.

DailyBubble sees great potential in the partnership between Hindustan Zinc Limited and AEsir Technologies for the development of Zinc batteries. This collaboration could lead to significant advancements in energy storage technology, benefiting various industries and promoting sustainable practices.

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