Reliance Acquires Major Stake In SenseHawk For $32 Mn

Reliance Industries Limited acquired Sense Hawk to boost its Renewable Energy segment.

Reliance Industries Limited has acquired Sense Hawk the U.S.-based firm that helps design the online platforms for solar projects. The deal was a total of $32 million for a significant part of shares. Reliance aims to revolutionise the energy sector in this sector and even wants to become the exporter of it as indicated in the Annual General Meeting of Reliance.

Reliance in December 2021 acquired Faradion a U.K.-based firm which is now doing research on Sodium-Ion batteries as an alternative to Lithium-Ion batteries. Reliance in past also acquired a 40% stake in Sterling and Wilson Renewable Energy (SWREL) which belongs to Shapoorji Pallonji. it deals with the manufacturing of solar power cells and their design.

These steps clearly shows that Reliance is set to Up its game in Energy Sector and finds it a new lucrative market of future.

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