Himadri Specialty Acquires 16.24 Percent Stake in US-Based IBC for USD 4.43 Mn
Himadri Speciality Chemical Ltd. has acquired a 16.24 percent stake in a US-based battery manufacturer, International Battery Company, Inc (IBC), for USD 4.43 Million, to commercialise lithium-ion battery materials.
May 23, 2025. By News Bureau
The investment, made through a combination of preferred and common shares, gives Himadri representation on IBC’s board. This is a significant milestone for Himadri, marking the start of the commercial deployment of its LFP Cathode active and anode materials.
IBC operates a 50 MWh lithium-ion battery cell facility in South Korea, which began production in 2023 and is developing a Gigafactory in Bengaluru, India, through its Joint Venture with Mahanagar Gas Ltd., a subsidiary of GAIL – IBC India Pvt. Ltd. wherein MGL owns a 44 percent stake. IBC is also poised to cater to the captive energy demand from MGL’s vehicles. IBC is presently developing its LFP-based Prabal 2000 using Himadri’s LFP cathode active and anode materials with a robust product roadmap through the partnership with Himadri.
IBC has already penetrated the EV market with over 500 EVs already running satisfactorily on its battery packs made using its NMC-based Prabal 1000 (NMC-622 cathode chemistry) Li-ion cells currently manufactured in South Korea.
The partnership enables Himadri to access IBC's manufacturing infrastructure and customer base across the United States, India, and East Asia for commercial testing and deployment of its battery materials.
"We are pleased to announce our strategic investment of USD 4.43 Million (approximately INR 37.47 Crores) for a 16.24 percent stake in IBC, a trailblazer in next-generation battery technologies. This partnership marks a pivotal step in Himadri's global clean-tech strategy and our entry into the LiB component materials market," said CMD and CEO of Himadri Speciality Chemical Ltd, Anurag Choudhary.
"Anode and cathode materials are the most critical components of a lithium-ion cell, accounting for nearly 65 percent of its total cost and directly influencing its performance and reliability. Our advanced materials—jointly tested with IBC—have demonstrated outstanding results, fulfilling their stringent requirements for high-performance battery manufacturing," added Choudhary.
"We're excited to have Himadri join us as a strategic partner. Their deep expertise in LFP cathode active and anode materials and a forward-looking global approach make them a strong fit for our long-term goals. This collaboration comes at a pivotal time as we scale our manufacturing and broaden our reach through a strong roadmap and truly emerge as a global chemistry agnostic product company,” said Founder and CEO of International Battery Company Inc, Dr. Priyadarshi Panda.
The partnership positions both companies to address the growing global demand for battery technologies in the mobility and energy storage sectors. Through the alliance, Himadri gains access to IBC's proprietary Industrial AI platform for materials innovation and co-development, while IBC benefits from Himadri's global market presence and supply chain management capabilities.
Himadri Speciality Chemical Ltd. operates in 56 countries globally and maintains eight zero-liquid discharge manufacturing facilities. The company utilises in-house clean power for 100 percent of its electrical energy needs and produces speciality chemicals for industries including lithium-ion batteries, paints, plastics, tyres, and construction chemicals.
please contact: contact@energetica-india.net.
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