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News on Medial
Mechlae Energy enables EV users to change battery in malls, shops
Inshorts
·
3m ago
Medial
Founded by Ragul Nishanth, Mechlae Energy is a Bengaluru-based startup offering fast and zero-downtime energy solutions for EVs. It has built the 'world's first portable battery-swapping technology'. These battery swap stations do not require heavy permits. They are easily deployable at dealerships, malls, restaurants, and delivery hubs, making it easy for EV users to change batteries anywhere.
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Energy analytics company iRasus Technologies raises seed round
Entrackr
·
10m ago
Medial
Energy analytics company iRasus Technologies has raised Rs 4 crore in a seed round co-led by Rohit Rajput and Srikar Reddy of IAN Angel, with participation from DFAN and other angel investors. The funds will be used to expand its product and engineering teams and accelerate business growth across India, the company said in a press release. Founded in 2019 by Arjun Sinha Roy, iRasus specializes in providing analytics and intelligence on battery data for users in electric mobility and stationary battery storage solutions. The company aims to deliver crucial data intelligence for users transitioning away from fossil fuel-based energy solutions. iRasus addresses the increasing demand for efficient integration of battery data into electric mobility and renewable energy storage solutions, focusing on scale, reliability, and affordability. Its flagship platform, Preksha, enables real-time battery management through predictive maintenance and comprehensive data analysis, helping users reduce costs, improve safety, and optimize battery usage. This insight is particularly valuable for sectors such as electric buses, fleet operators, and stationary battery users, allowing them to enhance performance, extend battery lifespan, and improve safety. Based in Gurugram, iRasus plans to connect with battery manufacturers, fleet operators, OEMs, renewable energy storage providers, telecom operators, and other users of battery storage systems.
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Maxvolt Energy Pockets Funding To Roll Out Fast Charging Lithium-ion Batteries
Inc42
·
1y ago
Medial
An EV battery manufacturer, Maxvolt Energy, has raised $1.5 million in a recent funding round from multiple angel investors. The company plans to use the funding to develop and launch fast-charging lithium-ion batteries. Maxvolt Energy was established in 2019 and specializes in providing batteries for e-cycles, e-scooters, and e-rickshaws, as well as offering lithium battery energy solutions.
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US offers $710 million in loans for EV technology projects
Economic Times
·
1y ago
Medial
The U.S. Energy Department has granted preliminary approval for around $710 million in loans to electric vehicle (EV) technology manufacturing ventures. The larger loan commitment of $544 million goes to a unit of South Korean company SK Siltron to expand a plant in Michigan for producing high-power silicon carbide electronics for EVs. Another conditional approval of $165.9 million went to American Battery Solutions to expand their EV battery pack assembly operations in Ohio and Michigan. These loans could create around 660 jobs in total. The energy department still has significant loan capacity to support clean-energy projects.
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Battery Startup Log9 Unveils EV Asset Management Subsidiary ‘Amphion’
Inc42
·
1y ago
Medial
Indian electric vehicle (EV) battery manufacturer, Log9 Materials, has rebranded its mobility business as 'Amphion' and launched a subsidiary of the same name. The company aims to provide solutions such as financing, data and analytics, charging infrastructure, and energy efficiency to address the challenges faced by the commercial EV industry. Log9 also unveiled a new battery, called Nexmile, designed for commercial EVs. The battery offers a 5-year warranty, 3-times faster charging speeds, and supports a 120 km range. Log9, founded in 2015, has raised almost $65m in funding and currently manages over 2,500 EV assets on the road.
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Synetiq, Allye to turn salvaged EV batteries into energy storage
Reuters
·
1y ago
Medial
Synetiq, the UK's largest vehicle salvage company, has partnered with Allye Energy to repurpose salvaged electric vehicle battery packs for energy storage systems. Allye plans to test and purchase EV packs from Synetiq to incorporate into their 300 kWh battery storage system, which can power a factory or 50 homes for a day. By reusing salvaged battery packs, the companies aim to address the challenge of battery recycling and reduce CO2 emissions by 60% compared to using new packs. Allye aims to use 5,000 packs per year in the UK and expand to other markets.
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Epsilon to invest Rs 15,350 Cr for EV battery facility in Karnataka
YourStory
·
5m ago
Medial
Epsilon Group plans to invest Rs 15,350 crore in Karnataka to establish a manufacturing and research facility for EV battery materials, focusing on graphite anode and LFP cathode production. Signed at the Invest Karnataka Summit, the initiative aims to bolster India's EV ecosystem, create jobs, and reduce import dependency. The investment includes Rs 9,000 crore for anode and Rs 6,000 crore for cathode manufacturing. This supports India's clean energy transition and strengthens its position as a battery technology hub.
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Tata Group considering spinoff of battery business Agratas
Livemint
·
1y ago
Medial
Tata Group is reportedly considering spinning off its battery business, Agratas Energy Storage Solutions Pvt, as an independent unit. The move would enable the battery business to raise funds and potentially go public in Mumbai. Agratas, which designs and manufactures batteries for the automotive and energy sectors, has factories in India and the UK. The potential listing could value Agratas between $5 billion and $10 billion. Tata Motors is also exploring similar spinoff plans for its EV business.
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PLI Should Focus On EV Cells Manufacturing, Not Batteries: GTRI
Inc42
·
11m ago
Medial
The Global Trade Research Initiative (GTRI) has recommended that the production linked incentive (PLI) scheme should prioritize the production of electric vehicle (EV) cells or lithium-ion cells rather than batteries. GTRI states that the Indian government should allow the domestic EV sector to grow organically without heavy reliance on incentives, in order to prevent India from becoming dependent on China for EV manufacturing. GTRI also suggests investing in battery recycling infrastructure and supporting clean energy sources for EV charging stations.
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DPI platform in works to find closest EV charging spot, more
Economic Times
·
1y ago
Medial
The team behind ONDC and other digital economy ecosystems is developing a digital public good called Unified Energy Interface (UEI). Powered by Beckn Protocol, UEI allows users to locate EV charging stations, green energy sources, and idle batteries across India. Users can search for charging stations, select the energy units needed, and place orders through various apps or even from an EV's dashboard. Multiple companies, including Pulse Energy and Kazam, have partnered for this initiative, which aims to streamline EV charging and payments.
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EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital
Entrackr
·
1m ago
Medial
EV startup Kazam raises $6.2 Mn from IFC, Vertex, and Avaana Capital Bengaluru-based EV energy-tech platform Kazam has raised $6.2 million in Series B funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures Southeast Asia & India and Avaana Capital. This round takes Kazam’s total capital raised to $19.2 million, including $13 million in equity from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate adoption of sustainable mobility, the company said in a press release. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is building a device-agnostic digital infrastructure platform that enables EV charging and battery-swapping operators, vehicle OEMs, fleets, and power utilities to manage and analyze charging assets. Kazam’s platform claims to have onboarded over 68,000 chargers and facilitated over 5 million charging sessions. The firm also saw its revenue grow 4X from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million in revenue with EBITDA positivity this fiscal. Kazam works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.
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