Himadri Increases Stake in IBC to Accelerate Next-Generation Battery Materials and Energy Storage Solutions

Himadri Speciality Chemical (Himadri), chemicals and advanced carbon materials company, has further strengthened its partnership with International Battery Company, (IBC), a U.S. headquartered technology developer and manufacturer of chemistry-agnostic prismatic Lithium-ion (Li-ion) cells, through an additional investment of USD 0.66 million.

Prior to this investment, Himadri had invested an aggregate of USD 5.43 million in IBC and held a 17.29 percent stake on a fully diluted basis. With the latest investment, Himadri's aggregated stake has increased to 20.47 percent on a fully diluted basis, comprising both common and preferred stock. The increased investment reflects the meaningful progress achieved through the partnership over the past year and Himadri's continued confidence in IBC's technology platform, commercialisation roadmap and long-term growth potential.

This partnership marks a significant milestone for Himadri, supporting the commercial deployment of its Lithium Iron Phosphate (LFP) Cathode Active Materials and advanced Anode Materials. Through this alliance, Himadri gains strategic access to IBC's advanced battery technology capabilities, its R&D centre in California, manufacturing facility in South Korea and the upcoming Gigafactory in Bengaluru, India.

The collaboration creates significant strategic value for both companies. For Himadri, the partnership strengthens its downstream integration within the battery value chain. By leveraging IBC's cutting-edge battery technology, AI-driven research capabilities and established manufacturing infrastructure in South Korea, Himadri is able to fast-track the transition of its cathode and anode materials from laboratory development to real-world applications while IBC secures access to a reliable supply of high-quality cathode and anode materials that are critical to battery performance, safety and cost competitiveness. IBC also benefits from Himadri's expertise in materials science, supply chain management, manufacturing excellence and global market reach.

Commenting on the development, Anurag Choudhary, CMD and CEO, Himadri Speciality Chemical said, "The decision to increase our stake is backed by tangible progress achieved over the past year, including successful validation of our battery materials, advancement of next-generation cell development programs and the creation of a clear pathway toward commercial deployment across mobility and energy storage applications.

We see tremendous potential in combining Himadri's advanced materials expertise with IBC's battery technology and manufacturing capabilities. This collaboration not only supports the commercialisation of our battery materials portfolio but also strengthens our position across the global battery value chain. As demand for high-performance and sustainable energy storage solutions continues to grow, we remain committed to investing in technologies and partnerships that create long-term value and accelerate the transition to clean energy."

The collaboration is expected to accelerate the development and deployment of next-generation battery technologies. Together, Himadri and IBC are well-positioned to address the growing need for high-performance, scalable, and sustainable energy storage solutions across mobility, grid storage and other emerging applications.