Graphite India invests Rs 50cr in battery technology firm GODI India for 31% stake
Graphite India Limited, a leading global producer of graphite electrodes, has made a strategic investment in GODI India Private Ltd, a company at the forefront of advanced battery technology. With a cash consideration of Rs. 50 Crores, Graphite India acquires a 31% equity shareholding in GODI India. This transaction positions Graphite India in the growing market of sustainable battery production for electric vehicles and energy storage systems.
GODI India’s Advanced Battery Technologies and Sustainable Practices
GODI India, currently backed by Blue Ashva Capital, a venture capital fund, specializes in research and development of advanced chemistry to support the manufacturing of sustainable batteries. These include high power density Lithium ion, Sodium ion, and Solid State batteries, using environmentally friendly processes like Aqueous Electrode Processing, Active Dry Coating, and Pranic Binder. GODI India, a signatory of The Climate Pledge, commits to achieving net-zero carbon by 2040.
The Growing Market for Electric Vehicle Batteries and Energy Storage
The investment comes at a time when the electric vehicle market is experiencing significant growth, driving the demand for advanced battery cells and supercapacitors. GODI India’s strategic positioning in this sector is poised to capitalize on these market dynamics, offering cutting-edge solutions for energy storage.
Executives’ Perspectives on the Strategic Investment
Ashutosh Dixit, Executive Director of Graphite India, commented on the investment, emphasizing the company’s diversification into advanced battery and energy storage system technologies. He highlighted GODI India’s role in developing innovative battery technologies for electric vehicles and consumer electronics in Indian and global markets. Similarly, Mahesh Godi, Founder and Director of GODI India, expressed enthusiasm for the partnership, citing GODI India’s achievements in developing environmentally friendly battery materials and its recognition with India’s first Bureau of Indian Standards (BIS) certification for electric vehicle battery cells.
This strategic investment by Graphite India in GODI India marks a significant step towards diversification and innovation in the field of advanced battery technologies, aligning with global trends in clean energy and sustainable practices.