Himadri Speciality Chemical raises stake in International Battery Company to 20.47%

Kolkata-based speciality chemicals major Himadri Speciality Chemical Ltd on Friday (June 19) said it has increased its stake in US-based Battery Company, Inc to 20.47% on a fully diluted basis, following an additional investment of $0.66 million.

Prior to the latest infusion, Himadri had invested an aggregate of $5.43 million in Battery Company and held a 17.29% stake on a fully diluted basis. The latest investment includes both common and preferred stock, the company said.

Battery Company is a US-headquartered technology developer and manufacturer of chemistry-agnostic prismatic lithium-ion cells.

Himadri said the increase in stake reflects progress in the strategic partnership and its continued confidence in the company’s technology platform, commercialisation roadmap and long-term growth potential.

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The partnership is linked to the commercial deployment of Himadri’s Lithium Iron Phosphate (LFP) cathode active materials and advanced anode materials.

Through the collaboration, Himadri gains access to Battery Company’s battery technology capabilities, research and development centre in California, manufacturing facility in South Korea and the upcoming gigafactory in Bengaluru.

The company said the arrangement strengthens its downstream integration in the battery value chain and supports the transition of its cathode and anode materials from development to real-world applications.

Battery Company, in turn, gains access to a supply of cathode and anode materials, which are critical for battery performance, safety and cost competitiveness, along with Himadri’s expertise in materials science, supply chain management, manufacturing capabilities and global market access.

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The collaboration is positioned as a technology and manufacturing partnership spanning R&D, production infrastructure and material supply across multiple geographies, including the United States, South Korea and India.

Anurag Choudhary, CMD and CEO, Himadri Speciality Chemical Ltd, said, "The decision to increase our stake is backed by tangible progress achieved over the past year, including successful validation of our battery materials, advancement of next-generation cell development programs, and the creation of a clear pathway toward commercial deployment across mobility and energy storage applications.

We see tremendous potential in combining Himadri's advanced materials expertise with IBC's battery technology and manufacturing capabilities. This collaboration not only supports the commercialisation of our battery materials portfolio but also strengthens our position across the global battery value chain.

As demand for high-performance and sustainable energy storage solutions continues to grow, we remain committed to investing in technologies and partnerships that create long-term value and accelerate the transition to clean energy."

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Shares of Himadri Speciality Chemical Ltd ended at ₹670.90, down by ₹19.85, or 2.87%, on the BSE.