The board of Himadri Speciality Chemical Limited has approved acquisition of a forty percent stake in Invati Creations Private Limited for a total consideration of ₹45.16 crore. Invati, founded by alumni from IIM Calcutta and IIT Kharagpur, specializes in engineering lithium-ion electrode materials aimed at efficient energy storage, boasting higher energy density and longer battery life.
As reported by Business Standard, under the terms of the agreement, Himadri will acquire a portion of Invati’s stake by injecting ₹19.99 crore in cash as growth capital, while the remaining ₹25.17 crore will be settled through a share swap. Anurag Choudhary, CMD and CEO, Himadri Speciality Chemical said, “Our partnership with Invati emphasizes the vision to positively impact the storage efficiency, charging speed, and battery lifespan of lithium-ion batteries. Their technology complements our portfolio in the battery material segment, and we foresee an elevation in the performance, safety, and recyclability of batteries, focusing on contributing to clean energy technologies and addressing a substantial portion of the global demand”.
Mukeshh Agarwal, Director of Invati Creations Private Ltd added, “Our research team is focusing on making lithium-iron-phosphate (LFP) batteries last longer and safer. We’re also testing new cathode materials for faster charging and have developed a unique cathode that maintains its integrity over many charging cycles”.
