Godi Energy secures Blue Ashva Capital funds to set up li-ion cell Gigafactory
Hyderabad-based energy technology firm Godi India Pvt Ltd has announced it has secured funds from Blue Ashva Capital through its Blue Ashva Sampada fund to establish supercapacitor and lithium-Ion cell manufacturing facilities in India.
The firm 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 occurred 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 concentrates on R&D and manufacturing of sustainable energy technology products.