8AUGUST 2024VEDANTA NICO INKS PACT FOR SUPPLYING NICKEL TO AESIR TECHNOLOGIESHONEYWELL INKS LONG-TERM MAINTENANCE AGREEMENT WITH AIR INDIAVedanta Nico, a branch of Vedanta announced that it has agreed with US company AEsir Technologies for the provision of nickel, an essential element for advanced batteries. Nickel is crucial in EV battery technology, especially in the cathode, where it boosts energy density, power output, and battery longevity. Batteries high in nickel content, like nickel-zinc types, provide quick charging, decrease dependence on cobalt, and enhance the overall value proposition of electric vehicles (EVs).The increasing use of electric vehicles is expected to cause the global need for nickel in batteries to increase from 150,000 tonnes in 2020 to 500,000 tonnes by 2025.The IEA predicts a significant increase in the number of electric vehicles, from 10 million in 2020 to 145 million in 2030, driven by improvements in battery capacity, faster charging, and decreased use of cobalt."Vedanta Nico, India's primary nickel producer, has signed a strategic Memorandum of Understanding (MoU) with AEsir Technologies, Inc, a US-based innovator in advanced battery technologies," Vedanta Nico said in a statement.Vedanta Nico has partnered to advance and market innovative nickel-zinc batteries for vital infrastructure, 5G telecommunications, and electric vehicle charging, they announced."We are thrilled to partner with AEsir Technologies to create a game-changing battery solution for the critical infrastructure, 5G telecom, and EV market. Our expertise in nickel production, coupled with AEsir's innovative zinc battery technology, positions us to deliver a product that meets the evolving needs of the industry. Honeywell, a worldwide corporation, declared a long-term agreement with Air India, owned by Tata Group, for the upkeep of the Auxiliary Power Units (APUs) for the airline's current and future aircraft. The deal for the post-sale assistance for Honeywell APUs, will assist the airline in decreasing unexpected maintenance expenses and downtime, ultimately guaranteeing a high level of aircraft readiness and fleet availability, as stated by the company listed on Nasdaq.The APU supplies electricity and cooling to an airplane while it is grounded, making it an essential aircraft component. It assists in maintaining passenger comfort and provides air source prior to a pilot initiating the main engines.According to Honeywell, Air India has more than 300 planes in total, made up of a variety of aircraft including over 100 Airbus A320s, 15 Boeing B777s, and a new fleet of 190 B737-8s."We are strengthening our collaboration with Air India and helping in its fleet modernisation efforts, as part of a long-standing commitment to supporting the carrier's innovation and growth objectives," said Ashish Modi, President of Honeywell India."This agreement forms part of our global growth and transformation plans, to help achieve more efficient, reliable operations, with maximised fleet availability, through Honeywell's advanced technology services," said Sisira Kanta Dash, chief technical officer, Air India. TOPSTORIES
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