Energy Storage

24 Jul 2021

Godi Energy Raises Funds from Blue Ashva Capital to Setup Lithium-ion Cell Gigafactory

24 Jul 2021  by ETEnergyWorld   

Hyderabad-based energy technology company Godi India Pvt Ltd announced it has raised funds from Blue Ashva Capital through its Blue Ashva Sampada fund to set up supercapacitor and lithium-Ion cell manufacturing facilities in India.

The company said it aims to commercially manufacture advanced lithium-ion cells and supercapacitors and will continue to develop ground-breaking materials with unique cell chemistries, superiorly engineered batteries, and supercapacitor cells.

It said that it forayed into the manufacturing of lithium-ion cells because of performance issues that arose from the imported cells.

“To maintain a competitive price per cell, many battery packs and EV OEMs import low-grade cells that do not perform efficiently in Indian climatic and driving conditions. Moreover, during sea shipping under uncontrolled storage conditions, these cells often suffer from electrolyte leakage leading to corrosion, increased internal resistance, and safety concerns,” GODI Energy said.

It added that in 2021, the demand for Lithium-ion cells in India is likely to stand at 10 GWh and this demand is expected to reach 800 GWh by 2030. “To keep up with this demand, battery packs and EV OEMs are currently importing cells from various countries. These cells have several issues related to performance, safety, and cost,” it said.

Founded by Mahesh Godi, Founder and CEO of GODI Energy, the company focuses on R&D and manufacturing of sustainable energy technology products.

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