Before this latest investment, Himadri had put a total of $5.43 million into International Battery Company, holding a 17.29% stake on a fully diluted basis. The recent investment comprises both common and preferred stock, the company reported.
International Battery Company is a US-based technology developer and manufacturer specializing in chemistry-agnostic prismatic lithium-ion cells.
Himadri stated that the increased stake signifies advances in their strategic partnership and ongoing confidence in the company’s technology framework, commercialization strategy, and long-term growth outlook.
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This partnership is associated with the commercial rollout of Himadri’s Lithium Iron Phosphate (LFP) cathode active materials and advanced anode materials.
Through this collaboration, Himadri benefits from access to International Battery Company’s battery technology capabilities, its research and development center in California, manufacturing operations in South Korea, and the forthcoming gigafactory in Bengaluru.
The company mentioned that this arrangement enhances its downstream integration within the battery value chain and facilitates the progression of its cathode and anode materials from development to practical applications.
In return, International Battery Company gains access to essential supplies of cathode and anode materials that are crucial for battery performance, safety, and cost-effectiveness, along with Himadri’s knowledge in materials science, supply chain management, manufacturing capabilities, and global market reach.
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The collaboration aims to establish a technology and manufacturing partnership covering R&D, production infrastructure, and material supply across various regions, including the United States, South Korea, and India.
Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical Ltd, remarked, “The decision to enhance our stake is supported by concrete achievements over the past year, which include the successful validation of our battery materials, progress in next-generation cell development initiatives, and a clear strategy for commercial deployment in mobility and energy storage sectors.
We see significant potential in merging Himadri’s advanced materials expertise with IBC’s battery technology and production capabilities. This partnership not only facilitates the commercialization of our battery materials portfolio but also strengthens our standing within the global battery value chain.
As the demand for high-performance and sustainable energy storage solutions rises, we remain devoted to investing in technologies and partnerships that foster long-term value and accelerate the shift to clean energy.”
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Himadri Speciality Chemical Ltd’s shares closed at ₹670.90, down by ₹19.85, or 2.87%, on the BSE.
