Himadri Speciality to pick 16% stake in US-based International Battery Company
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Clean-tech company Himadri Speciality on Thursday said it will acquire a 16.24 per cent stake in International Battery Company to increase its presence in the mobility and energy storage sectors. Himadri has already made an investment of USD 4.43 million (approximately Rs 37.47 crore) in the US-based technology developer and manufacturer of lithium-ion (Li-ion) cells, the company said without disclosing the deal size and timeline for completion of the transaction.The investment, made through a combination of preferred and common shares, gives Himadri representation on the board of International Battery Company."It positions both companies to address the growing global demand for high performance, scalable, and sustainable battery technologies particularly in the mobility and energy storage sectors," the statement said.The company's CMD & CEO Anurag Choudhary said: "We announce our strategic investment for a 16.24 per cent stake in IBC, a trailblazer in next-generation battery technologies. This partnership marks a pivotal step in Himadri's global clean-tech strategy and our entry into the LiB component materials market."IBC operates a 50 MWh lithium-ion battery cell facility in South Korea and is developing a gigafactory in Bengaluru, India, through its joint venture with Mahanagar Gas Limited The Bengaluru Gigafactory is scheduled to commence operations by the fourth quarter of FY2025-26. Through partnership, the Himadri company aims to play a pivotal role in India's energy transition. The Bengaluru facility will cater to last-mile B2B fleet providers and 2- and 3-wheeler OEMs, while also supporting global battery cell exports.Choudhary said this is a win-win collaboration-one that brings together deep material science and advanced battery technology to shape the future of sustainable energy."Together, we are building a scalable, high-impact ecosystem that will power the next wave of clean mobility and energy solutions not only in India but across the globe," he said.
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Time of India
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First Post
31 minutes ago
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