Amara Raja Invests €20mn to Increase Stake In Battery Tech Firm InoBat Updated On Fri, Jun 21st, 2024 by Saurenergy Battery manufacturer Amara Raja Energy & Mobility (ARE&M) has further invested EUR 20mn, which includes a subscription for an additional 4.5% equity stake in InoBat AS, Norway. With the above, Amara Raja Energy & Mobility Limited’s total holding will be around 9.32% of its equity stake in InoBat AS, including its previous investment of EUR […] Read more
JSW MG Motor India Partner Ecofy For EV Financing Updated On Thu, Jun 20th, 2024 by Saurenergy JSW MG Motor India have announced that it partnered with Eversource Capital-backed NBFC Ecofy to provide financing and leasing solutions for its electric vehicles. According to a release, the two businesses have inked a Memorandum of Understanding (MoU) under which Ecofy will offer leasing and financing options for up to 10,000 JSW MG EVs over […] Read more
Hubject & Exicom Partners To Enhance EV Charging Updated On Thu, Jun 20th, 2024 by Saurenergy Hubject, the EV Interoperability market leader, has entered into a strategic partnership with Exicom, India’s largest EV charger manufacturer, charge point operators, and other ecosystem players. The overall aim of the partnership is to use Hubject’s innovative interoperability technology to improve the charging experience for EV drivers in India. This includes Hubject’s interchange platform, which […] Read more
Gensol Engineering Allotted Additional 250 MW (500 MWh) for GUVNL’s BESS Project Updated On Thu, Jun 20th, 2024 by Saurenergy Gensol Engineering Ltd. has received the second tranche under greenshoe option allotment of 250 MW/500 MWh from Gujarat Urja Vikas Nigam Limited (GUVNL) for standalone Battery Energy Storage Systems (BESS) project to reach 500 MW / 1000 MWh. According to Gensol, the project including first and second tranche will generate a total revenue of INR […] Read more
Power Demand Pushes Battery Makers Revenue By 10-11%: CRISIL Research Updated On Wed, Jun 19th, 2024 by Saurenergy CRISL Rating’s latest report anticipates the domestic lead-acid battery manufacturers’ revenue to grow 10-11% in fiscal 2025. The report found this to be a close mirroring ~12% which was seen last fiscal year. Moreover, growth is expected to be driven by steady demand in the mainstay automotive segment and tailwind from rising 5G penetration, expansion […] Read more
RMI Foresees Cleantech To Drive 10% Of Global GDP Growth Updated On Wed, Jun 19th, 2024 by Saurenergy The Rocky Mountain Institute (RMI), a US-based research organization, has recently published a report forecasting significant growth in the cleantech sector. According to the report, solar energy installations are expected to reach 1,000 GW annually, accompanied by sales of 6,000 GWh of batteries per year. These advancements are crucial in achieving the sector’s goal of […] Read more
LG and ChargePoint Join Hands to Innovate EV Charging Updated On Wed, Jun 19th, 2024 by Saurenergy ChargePoint, a provider of networked charging solutions for electric vehicles (EVs), and global innovator LG Electronics (LG) have formed a partnership to leverage their respective strengths for future innovations in EV charging. “LG shares ChargePoint’s commitment to enabling a world-class charging experience for all EV drivers, regardless of make, model, or connector type”. The first […] Read more
Honeywell Forays Into AI Battery Manufacturing Platform Updated On Tue, Jun 18th, 2024 by Saurenergy Honeywell has announced the launch of its Battery Manufacturing Excellence Platform (Battery MXP), an artificial intelligence (AI)-powered software solution designed to optimise the operation of gigafactories from day one by improving battery cell yields and expediting facility startups for manufacturers. With traditional standalone solutions, battery manufacturers’ material scrap rates can be as high as 30% […] Read more
Sodium-Ion Battery Startup UNIGRID Battery Gets $12mn Funding Updated On Fri, Jun 14th, 2024 by Saurenergy UNIGRID Battery, a San Diego-based startup developing advanced sodium-ion batteries, has announced a successful close of an oversubscribed $12 Million Series A funding round. The financing was Co-led by Transition VC and Ritz Venture Capital and joined by new investor Union Square Ventures and existing investor Foothill Ventures. The investment will accelerate and scale-up UNIGRID’s […] Read more
