Himadri Speciality Chemical Ltd (HSCL), a global leader in specialty chemicals, has announced a strategic investment of USD 4.43 million (approximately ?37.47 crore) to acquire a 16.24% stake in International Battery Company, Inc. (IBC), a U.S.-based innovator in chemistry-agnostic prismatic lithium-ion (Li-ion) cell technology. This investment, made through a mix of preferred and common shares, also grants Himadri a seat on IBC’s board—marking a major step in the commercial deployment of its LFP cathode active and anode materials.

IBC specializes in advanced prismatic cell technologies for energy storage and mobility solutions globally. It currently operates a 50MWh battery cell production facility in South Korea, launched in 2023, and is building a Gigafactory in Bengaluru through a joint venture with Mahanagar Gas Limited (MGL—a GAIL subsidiary), where MGL holds a 44% stake. The Bengaluru Gigafactory is expected to be operational by Q4 FY26 and will serve last-mile B2B fleet operators and OEMs of 2- and 3-wheelers, while also supporting global exports.

IBC has already made inroads in the EV space with over 500 electric vehicles powered by its NMC-based Prabal 1000 cells, currently manufactured in South Korea. The company’s open order book includes 4,300 electric 2-wheelers from six different customers. Its upcoming Prabal 2000 cell, based on LFP chemistry and developed using Himadri’s materials, represents the next phase in innovation.

The partnership between Himadri and IBC signifies a transformative move in the global battery materials ecosystem. It leverages Himadri’s strengths in high-performance anode and cathode materials alongside IBC’s advancements in flexible prismatic cell designs. Together, they aim to accelerate the roll-out of next-generation battery solutions that meet growing global demands for scalable, high-efficiency, and sustainable energy storage—particularly for mobility and renewable applications.

Through this alliance, Himadri gains strategic access to IBC’s manufacturing bases in South Korea and India, enabling real-time commercial testing and integration of its advanced materials. It also positions Himadri to tap into IBC’s rapidly expanding customer network across the U.S., India, and East Asia.

IBC, in turn, secures a consistent supply of premium-quality anode and cathode materials—crucial to enhancing battery cost-efficiency and performance. The collaboration will also benefit from IBC’s proprietary Industrial AI platform, designed to accelerate innovation and support co-development of cutting-edge materials.

This partnership also marks a milestone for India’s clean energy mission. With advanced battery manufacturing and materials R&D anchored domestically, it contributes to building a self-reliant and globally competitive energy storage ecosystem. The upcoming Bengaluru Gigafactory is poised not only to meet Indian market demand but also to strengthen India’s role as a key player in global battery exports.

Commenting on the development, Mr. Anurag Choudhary, Chairman and Managing Director of Himadri Speciality Chemical Ltd, said:

“We are excited to announce our strategic investment in IBC—a pioneer in next-gen battery technologies. This move aligns with our global clean-tech roadmap and marks our entry into the lithium-ion battery materials space.

Anode and cathode materials, which account for nearly 65% of a Li-ion cell’s cost, are fundamental to its performance and reliability. Our advanced materials—tested in collaboration with IBC—have met rigorous benchmarks for high-performance battery manufacturing.

Through this partnership, we gain entry to IBC’s global infrastructure, customer base, and cutting-edge R&D, including its Industrial AI platform. IBC, in return, benefits from a secure, high-quality materials supply and our deep expertise in material science and global supply chains.

This collaboration is a win-win—uniting advanced materials with breakthrough battery innovation. Together, we are building a scalable ecosystem that will drive the next generation of clean mobility and energy solutions across India and the world.”

This partnership not only strengthens Himadri’s position in the global battery value chain but also supports the broader goal of advancing clean, scalable, and sustainable energy technologies.