India Energy Storage Week to witness Rs 2000 cr investment announcements

New Delhi: Investment commitments of more than Rs 2,000 crore are expected to be announced in energy storage, electric vehicle and green hydrogen sectors at the India Energy Storage Week 2024 in July, the India Energy Storage Alliance (IESA) said on Wednesday.

The IESA is set to host its annual flagship international event, India Energy Storage Week (IESW) International Conference and Exhibition from July 1 to 5, 2024, in New Delhi, a statement said.

The IESW 2024 will become the launch platform for multiple factory and Gigafactory announcements paving way to India’s global manufacturing hub mission.

A week ahead of the 10th edition of IESW, the IESA announced the potential investment of over Rs 2000 crore coming to India at IESW 2024, it stated.

The IESW 2024 is expected to witness the participation of over 150 key partners and exhibitors and more than 1000 companies. The event will hold more than five new factory announcements.

Singapore-headquartered VFlowTech has announced the launch of the largest long-duration energy storage manufacturing facility (non-lithium battery) at Palwal, Haryana during the India Energy Storage Week (IESW) 2024.

Vivek Seth, Managing Director (India), VFlowTech India Pvt Ltd said, "Focused on producing VFlow Tech’s advanced kWh and MWh VRFB systems, our new facility represents a significant milestone in the company’s expansion strategy.

The high-tech facility has a current annual capacity of 100 MWh with plans to scale up to a Gigafactory in the next 2 years with committed investments from the parent Singapore company, Seth added.

Nash Energy will showcase its indigenously produced Li-Ion battery cell at IESW 2024, which is manufactured in India.

Anil Kumar, COO, Nash Energy said in the statement, "We are the first company in India to launch a dedicated Li-Ion battery plant at a massive scale. Nash has set up a Lithium Ion cell manufacturing plant in Karnataka with an annual capacity of 600 MWh scalable to 1.5 GWh to produce LFP cylindrical 32140 format cells. The factory will start production by next month..

BatX Energies also announced the opening of its cutting-edge battery recycling and materials extraction facility, HUB-1 at IESW 2024.

The new HUB-1 facility is designed to extract 2.5 thousand metric tons of battery materials annually, encompassing all battery chemistries to drive the global energy transition to a sustainable and circular economy pathway.

This plant is fully integrated with an advanced material science research lab (funded by the Ministry of Heavy Industries), a commercial-scale battery refurbishing setup (10 MW), and a patented, indigenously designed material extraction plant.

Lohum the Leading company in battery material specializing in Lithium-Ion Battery recycling is also announcing to enter next-gen 'Manganese-rich' Lithium-ion battery technology manufacturing, supported by an R&D grant from India's Ministry of Mines.

Aligned with this objective, the company has roped in ex-Tesla veteran Chaitanya Sharma, Founder of Nascent Materials.

Bharat Cell by Khusmanda Power also announced its entrance to BSES space with the announcement of a 2 GWh BSES system manufacturing facility at IESW 2024.

It has successfully established itself as Asia’s biggest launchpad for new products, solutions, and technologies in the space of energy storage, electric mobility, and green hydrogen.

New product launches at IESW 2024 include a 20 ft BESS System, specialized solvent extractant chemical for the recovery of cobalt from spent lithium-ion batteries and mining ores, Isothermal Air compression & expansion Technology for extra Long Duration Energy Storage, and Composite Overwrapped Pressure Vessel for green Hydrogen storage by various companies.

IESW 2024 is also expected to witness the signing of more than 5 MoUs and Partnership deals at the event including one of the MoU between IESA and Powering Australia.