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Reliance New Energy Limited (“Reliance”), a wholly owned subsidiary of Reliance Industries Ltd, has acquired substantially all of the assets of Lithium Werks BV (“Lithium Werks”) for a total transaction value of USD 61 million including funding for future growth.

The assets include the entire patent portfolio of Lithium Werks, manufacturing facilities in China, key business contracts and hiring of existing employees as a going concern.

We are pleased to have assisted Reliance on this transaction, as Reliance makes a bigger push towards clean energy and transport.
Partner Rebecca Punto Pinto

"We are pleased to have assisted Reliance on this transaction, as Reliance makes a bigger push towards clean energy and transport." says lead partner Rebecca Runa Pinto - Noome.

Reliance is India’s largest private sector company, with a consolidated turnover of INR 539,238 crore (USD 73.8 billion), cash profit of INR 79,828 crore (USD 10.9 billion), and net profit of INR 53,739 crore (USD 7.4 billion) for the year ended March 31, 2021. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

Reliance is the top-ranked company from India to feature in Fortune’s Global 500 list of “World’s Largest Companies”. The company stands 55th in the Forbes Global 2000 rankings of “World’s Largest Public Companies” for 2021 – top-most among Indian companies. It features among LinkedIn’s ‘The Best Companies to Work For in India’ (2021).

Incorporated in 2017, Lithium Werks is a cobalt-free lithium battery technology and manufacturing company, with operations in the US, Europe and China and customers worldwide. Its batteries are used in industrial, medical, marine, energy storage, commercial transportation and other highly demanding applications, where its proprietary Nanophosphate® powder delivers unique power, safety and cycle life performance in addition to being more ESG friendly compared to competing technologies.

The NautaDutilh team further consisted of Jos Somers, Mariebelle Timmermans, Alexander Bevers (Corporate M&A), Elizabeth van Schilfgaarde, Janneke de Goeij - Prins, Diederik von Königslöw, Kalina Petrovski (Finance), Kees Koetsier, Florine Kuipéri (Notarial Law), Ramon Pop (Real Estate) and Daniël Kuiper (Employment and Pensions).

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