Himadri's Strategic Leap into Global Battery Market

Clean-tech giant Himadri Speciality revealed its strategic acquisition of a 16.24 percent stake in International Battery Company (IBC) to strengthen its foothold in the burgeoning mobility and energy storage sectors.

With an investment of USD 4.43 million, Himadri aims to leverage IBC's expertise in lithium-ion cell manufacturing to address the rising global demand for advanced battery technologies. While details of the deal size and timeline remain undisclosed, this partnership grants Himadri a position on IBC's board.

IBC's operations span a 50 MWh lithium-ion battery facility in South Korea and a developing gigafactory in India's Bengaluru, projected to commence operations by FY2025-26's end. The collaboration is set to be a pivotal move in India's clean energy transition, catering to domestic and international markets.

(With inputs from agencies.)