High Energy Batteries Expands Product Range to Include Hydrogen-based Solutions in India
Key Ideas
- High Energy Batteries in India is diversifying its product range to include fuel cells and flow batteries, particularly focusing on Vanadium Redox Flow Batteries and hydrogen-based solutions.
- The company is strengthening its position in both defense and non-defense markets by developing value-added products like battery and power pack system integration.
- Collaborations with IIT-Madras and ONGC Energy Centre Trust have led to the development of a 10kW/100kWh VRFB storage system integrated with solar PV, focusing on long-endurance energy storage applications.
- Revenue for FY24 was reported at ₹77 crore, with a profit-after-tax of ₹17 crore, showcasing the company's financial stability and growth amidst its expansion into hydrogen-based technologies.
High Energy Batteries (India) Ltd is strategically expanding its product range to include fuel cells and flow batteries, particularly emphasizing Vanadium Redox Flow Batteries and hydrogen-based solutions for power generation and bulk energy storage applications in India. The company's Chairman, N Gopalaratnam, highlighted the focus on value-added products like battery and power pack system integration to enhance its market position in both defense and non-defense sectors. Through collaborations with IIT-Madras and ONGC Energy Centre Trust, High Energy Batteries has successfully developed a 10kW/100kWh VRFB storage system integrated with solar PV, aimed at charging electric two or three-wheelers continuously through a 24/7 charging station application. The company's R&D efforts also extend to fuel cells for in-situ power generation using hydrogen and long-duration energy storage, contributing to more than 10 hours of uninterrupted power through flow battery systems.
Financially, the company reported revenue of ₹77 crore in FY24, with a profit-after-tax of ₹17 crore, showcasing its financial stability despite a slight decrease compared to the previous year. High Energy Batteries aims to continue its expansion into hydrogen-based technologies, addressing technical challenges in material availability, component indigenization, and cost-effectiveness over the next two years. This strategic move aligns with the company's vision for growth and innovation in the energy and power systems sector, leveraging its expertise in developing batteries for critical platforms like torpedoes, fighter aircraft, and UAVs.
Topics
Fuel Cells
Renewable Energy
Innovation
Research And Development
Energy Storage
Market Expansion
Power Generation
Collaboration
Defense Industry
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