A subsidiary of Rain Industries and Canada's Northern Graphite are jointly developing natural graphite anode materials, to enhance the life and charging speed of lithium-ion battery cells.
The joint agreement, signed on October 9, will develop advanced battery anode material (BAM), used in lithium-ion batteries used in electric vehicles. In a lithium-ion battery, the anode, or negative electrode, is typically made up of graphite, coated on copper foil. The anode is a critical part of any lithium-ion battery's life cycle.
The tie up will accelerate innovative solutions for the lithium-ion battery market, which has been growing very rapidly, said Gerard Sweeney, President of Rain Carbon Inc.
Hugues Jacquemin, Northern Graphite's Chief Executive Officer said the pact enables use of natural graphite in battery anode materials, and addresses environmental concerns, while enhancing metrics such as cycle life, charging speed and stability of batteries.
Shares of Rain Industries are higher by 7% so far this year, and the company has a market capitalisation of over Rs 5,500 crore.
Jagan Reddy Nellore, the Vice Chairman of RAIN Industries had in August said that the company was investing in an Innovation Center in Hamilton, Canada, which is expected to be operational by first quarter of 2025. The company is positioning to develop products in this emerging industry of new age materials. "We intend to remain an industrial products supplier
to global businesses, but it is little early to project revenue and/or earnings from these products," Nellore had said.
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