Himadri Speciality Chemical Limited (HSCL) has increased its stake in International Battery Company Inc (IBC) to 20.47% on a fully diluted basis through an additional investment of USD 0.66 million.
Prior to this investment, HSCL had invested USD 5.43 million in IBC and held a 17.29% stake on a fully diluted basis comprising common and preferred stock. The latest investment builds on progress achieved through the partnership and HSCL's view of IBC's technology platform, commercialisation roadmap, and growth potential.
IBC is a US-headquartered developer and manufacturer of chemistry-agnostic prismatic lithium-ion cells. The partnership supports the commercial deployment of HSCL's Lithium Iron Phosphate (LFP) Cathode Active Materials and advanced Anode Materials.
HSCL gains access to IBC's battery technology capabilities, its R&D centre in California, manufacturing facility in South Korea, and the upcoming Gigafactory in Bengaluru, India. IBC secures access to HSCL's cathode and anode materials critical to battery performance, safety, and cost competitiveness, alongside HSCL's expertise in materials science, supply chain management, and manufacturing.
Through the partnership, HSCL gains deeper downstream integration within the battery value chain, allowing it to transition its cathode and anode materials from laboratory development to commercial applications. The strengthened partnership is expected to accelerate the development of next-generation battery technologies.
Anurag Choudhary, Chairman and Managing Director of HSCL, said the decision to increase the stake followed tangible progress over the past year, including validation of battery materials and advancement of next-generation cell development programs. The collaboration supports commercialisation of HSCL's battery materials portfolio across mobility and energy storage applications.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.