Matter Energy and Luminous Power In Partnership For Energy Storage Solutions

Matter Energy, the Ahmedabad-based technology start-up, has entered into a strategic partnership with Luminous Power Technologies aiming to create a technological breakthrough in the field of home inverters and stationary applications. According to the release, the solution would also encourage many possibilities of generating sustainable energy through domestic solar and wind power generation, storing, and using for various personal energy applications.

The smart home dock is energised by a dual-purpose battery solution, which can be used for both mobility and domestic energy storage applications. This lithium-ion battery solution is built on the principles of battery swapping technology to power a two-wheeler and home inverter interchangeably. The smart connectivity features will enable connected experiences via the smart home ecosystem and mobile – connected features.

Commenting on the partnership, Mohal Lalbhai, CEO and Founder, Matter Group, said, “We are delighted to welcome Luminous Power Technologies as a key partner towards energy empowerment. With fast urbanisation, increasing consumer electronics usage, a growing desire for electric vehicles, and governments’ quest for greener energy sources throughout the nation, the need for power inverters with the latest technology will rise, and the market will see a double-digit growth in the coming years. This trend is expected to continue, and for a country like India, it is crucial to make investments in cleaner energy options. With Luminous’ extensive presence and distribution network not only in India but also in South-east Asia and South Africa, we are optimistic that our collaboration will enable us to provide dependable and eco-friendly solutions to millions of Indian households”.

Preeti Bajaj, CEO of Luminous Power Technologies said, “We are excited to collaborate with Matter, a homegrown technology innovation-led start-up, and this strategic collaboration aligns with Luminous’ goal to deliver a diverse variety of innovative solutions in the power backup for residential markets. The power inverter market in India is estimated to grow at a CAGR (Compound Annual Growth Rate) of 14.6% by 2027, and by joining forces, both companies will further accelerate the market catering to the growing demand for power inverters in the domestic and stationary sectors. Matters’ expertise in Lithium-Ion battery technology will benefit Luminous Power Technologies, allowing it to provide advanced solutions to customers in Indian and international geographies.”

The home dock concept, with the dual-purpose battery pack, will be displayed at the Auto Expo 2023, at Matter’s Pavillion.