Beyonder signs agreement with Midwest Energy for giga battery factory in India
Beyonder and Midwest Energy have entered into an agreement to start planning giga scale battery production in India, based on Beyonder's unique and patented technology. The agreement was signed at Beyonder's Battery Centre in Sandnes, Norway.
India is a very interesting market for the Beyonder technology. In the long term, this agreement will be an important contribution to the green shift in India where batteries are a key factor, says Beyonder CEO Svein Kvernstuen.
The two companies have found suitable solutions to accelerate decarbonisation of the energy sector in general and the transport sector in particular. By pooling our respective resources, technical knowledge, experience and expertise, we agree to establish a battery cell manufacturing facility in Hyderabad, India.
I am excited to visit Beyonder in Norway and sign this important agreement based on the unique technology developed here, says Mrs Soumya Kukreti, CEO of Midwest Energy.
The agreement fits into our strategy for the electrification of the transport sector, initially mining trucks, buses and heavy-duty transport trucks.
Mr Rajesh Pathak, Secretary, TDB briefed all about the financial support offered by TDB for such technologically advanced industries to set up manufacturing unit in India. The partnership agreement envisages building and commissioning the cell manufacturing facilities in Hyderabad over the next coming years. The capacity will be increased in stages, scaled up to GWh size.
Learn more about Midwest Energy:
Midwest Energy is part of an India-based mining group which has an illustrious track record for nearly 40 years and currently holds the national leadership position in production and export of natural stone products. The core activity is exploration, mining, mineral processing, powder metallurgy tech and battery materials is actively working on initiatives aimed at decarbonising the mining and mineral transport sectors. For more information see Midwest Granite / Midwest Energy .
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