Anurag Choudhary, the big boss at Himadri Speciality Chemical, the largest speciality carbon black maker in India, made a power move on Thursday. The company’s board gave the green light to acquire a 16.24% stake in the US-based lithium-ion cells maker, International Battery Company (IBC), for a sweet cash deal of about ₹37.47 crore. Himadri Speciality Chemical, based in Kolkata, spilled the beans in a stock exchange filing, calling this investment in IBC a “major milestone” for them. It signals the launch of their LFP Cathode active and anode materials in the commercial market.
**The Nitty-Gritty of the Deal**
In an exclusive chat with businessline, Anurag Choudhary spilled the tea on the strategic deal with International Battery Company. He mentioned that this partnership was a game-changer on a global scale as it paved the way for Himadri to push its cathode and anode materials into the market. IBC, now a client of Himadri, relies on these crucial materials that make up 65% of the total cost of a lithium-ion cell. The deal not only secures a long-term supply of raw materials for IBC but also opens up opportunities for both companies to up their game in the battery industry.
**Moving Forward Together**
Himadri Speciality Chemical revealed that the stake acquisition in International Battery Company is set to be wrapped up within 30 days of the execution of the transaction documents. This move will grant Himadri a seat at the table on IBC’s board. IBC, known for its innovative prismatic cell technologies for energy storage and mobility applications worldwide, already has a lithium-ion battery cell facility up and running in South Korea since 2023. The company is also gearing up to launch a Gigafactory in Bengaluru through a partnership with Mahanagar Gas Limited (MGL), a Subsidiary of GAIL.
**The Big Picture**
The Bengaluru Gigafactory is on track to kick off operations by the fourth quarter of this fiscal year. This facility will focus on manufacturing lithium-ion cells used to create battery packs for small mobility solutions like two-wheelers and three-wheelers. The plan is to then shift gears towards larger mobility applications. Anurag Choudhary described the strategic deal as a win-win scenario that brings together material science and cutting-edge battery technology to shape the future of sustainable energy.
**Final Thoughts**
With Himadri’s support, International Battery Company is confident in their ability to speed up innovation and deliver top-notch cell technologies to meet the growing demands of the mobility and energy storage sectors. Priyadarshi Panda, the brain behind International Battery Company, expressed excitement about having Himadri on board as a strategic partner, citing their expertise in LFP cathode active and anode materials as a perfect match for their long-term goals. This collaboration comes at a crucial time as both companies gear up to make a mark globally in the world of chemistry agnostic products.
Not really sure why this matters, but Himadri Speciality Chemical’s stock wrapped up the day at ₹4,74.60 apiece on BSE, marking a 2.10% increase from the previous close.