Graphite India Limited has solidified its strategic entry into advanced battery technologies and energy storage systems by acquiring a 31% equity shareholding in GODI India. The transaction involves a cash consideration of INR 50 Crore for Compulsory Convertible Preference Shares of GODI India, a company engaged in cutting-edge chemistry R&D for sustainable batteries and supercapacitor-based energy storage systems.
GODI India, currently backed by Blue Ashva Capital, focuses on developing Lithium-ion, Sodium-ion, and Solid-State batteries for electric vehicles and consumer electronics. The company has gained expertise in advanced technologies, which are environmentally friendly and carbon-neutral processes. Notably, GODI India is a signatory to The Climate Pledge, a commitment to achieving net-zero carbon by 2040.
The strategic move by Graphite India reflects a broader industry trend driven by the surge in electric vehicle sales and the growing demand for energy storage systems. GODI India, with its diverse battery technologies and environmentally sustainable processes, is well-positioned to capitalise on this evolving market.
Ashutosh Dixit, Executive Director of Graphite India, expressed enthusiasm about the investment, stating, 'This strategic move reaffirms Graphite India’s commitment towards technological innovation and growth, which is a significant step for creating a diversified business portfolio.'
Mahesh Godi, Founder and Director of GODI India, highlighted the company's achievements in developing essential battery materials and components using eco-friendly processes. He welcomed the strategic partnership with Graphite India, emphasising the latter's expertise in carbon and electrode manufacturing and their shared vision for synergistic technologies.
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