Himadri Speciality Chemical Ltd (HSCL), a key player in the speciality chemicals space, has announced a strategic investment of $4.43 million (approximately ₹37.47 crore) to acquire a 16.24% stake in International Battery Company, Inc (IBC). This US-headquartered firm specialises in developing chemistry-neutral prismatic lithium-ion (Li-ion) battery cells. The investment was made through a mix of preferred and common shares and grants Himadri representation on IBC’s board.
This move marks the beginning of Himadri’s commercial rollout of its LFP cathode active and anode materials, positioning it firmly in the global clean energy ecosystem.
The share price of HSCL has gained 2.38% as of 12:47 PM on May 22, 2025.
IBC is a known innovator in prismatic cell technologies designed for energy storage and mobility solutions across international markets. It operates a 50 MWh battery cell facility in South Korea and is setting up a Gigafactory in Bengaluru through a joint venture with Mahanagar Gas Ltd, a subsidiary of GAIL. The Bengaluru facility is expected to commence operations by the fourth quarter of FY26.
The Gigafactory aims to support India’s energy transition by supplying battery cells for last-mile fleet providers and manufacturers of electric 2 and 3-wheelers, as well as serving global export needs. With more than 500 electric vehicles already running on its NMC-based Prabal 1000 battery packs, IBC has demonstrated early success in the EV space and holds an order book of over 4,300 electric 2-wheelers from 6 customers.
This strategic alliance between Himadri and IBC is set to transform the lithium-ion battery supply chain. By combining Himadri’s expertise in anode and cathode materials with IBC’s strength in cell technology, both companies aim to create high-performance, sustainable energy storage solutions for the global mobility and energy storage sectors.
Himadri will now have access to IBC’s manufacturing facilities in South Korea and the upcoming Gigafactory in Bengaluru, enabling the testing and deployment of its new energy materials on a commercial scale. In turn, IBC secures a reliable supply of high-quality, performance-critical battery components through this partnership.
An important element of this partnership is IBC’s proprietary Industrial AI platform. This advanced system will allow faster co-development of next-generation materials and battery solutions. Himadri’s materials, jointly tested with IBC, have already met stringent quality benchmarks, setting the stage for scalable deployment.
This opens up significant opportunities for Himadri to establish itself as a key supplier in the international battery materials market while supporting IBC in scaling its operations globally.
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Beyond commercial value, this partnership holds national significance. By anchoring advanced battery manufacturing and innovation in India, the collaboration contributes to a self-reliant, globally competitive clean energy value chain. The Bengaluru Gigafactory will meet both domestic and international demand, reinforcing India’s growing influence in the global energy landscape.
Mr Anurag Choudhary, CMD and CEO of Himadri, remarked, “Anode and cathode materials are the most critical components of a lithium-ion cell, accounting for nearly 65% 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.”
As global demand for clean energy solutions and electric vehicles grows, the partnership between Himadri and IBC signals a forward-looking move. It aligns innovation in materials science with scalable manufacturing to meet the needs of a rapidly electrifying world, with India poised to play a central role.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 22, 2025, 2:38 PM IST
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