Latest news with #AvishekKumar
Mint
4 days ago
- Automotive
- Mint
India needs battery technology beyond lithium, says industry experts
New Delhi, Jul 10 (PTI) India needs to explore battery technologies other than lithium-ion, which is currently leading the industry due to its high storage capacity and quick charging, suggested experts participating in India Energy Storage Week. This assumes significance as the electric vehicle (EV) market is gaining significant traction in the country, paving the way for a more sustainable future. Batteries are one of the key components of EVs, with Li-ion technology currently leading the industry due to its high energy density and quick charging, a statement said. However, it stated that concerns over the limited availability of raw materials for these batteries could create production challenges and potential shortages. This highlights the urgent need for alternative battery technologies. Researchers and experts are actively exploring innovative solutions, with Vanadium Redox Flow Batteries (VRFB), thermo-mechanical systems, and sodium-ion technologies emerging as promising developments that could transform the EV industry and drive the next generation of electric vehicles. VRFB is a rechargeable energy storage solution that leverages vanadium ions for enhanced longevity. The global market for VRFB was valued at USD 394.7 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 19.7 per cent from 2024 to 2030. Concerning this, industry experts and leaders highlighted that "India needs battery technology beyond Lithium-ion", at India Energy Storage Week (IESW) 2025, organised by industry body India Energy Storage Alliance (IESA) from July 8-11. Industry experts demanded that India needs to expand non-lithium energy storage technologies to address its rapidly growing and diverse energy demands. They emphasised the necessity for alternative solutions to ensure grid stability, meet industrial loads, and promote clean mobility. Avishek Kumar, Co-founder and CEO of VFlowTech, emphasised, "While lithium-ion batteries have reached the mass adoption stage, there is a growing need to diversify energy storage solutions." India should look beyond lithium. Highlighting the rise of sodium-ion batteries as a cost-effective, temperature-resilient alternative ideal for stationary applications, William Tope, CEO of LiNa Energy, said, "As we start to move towards very high penetrations of intermediate renewable generation, the importance of other battery industries and long duration energy storage to load shift at large scale from the off peak period to the peak period is incredibly important." Paul Smith of Energy Dome said the company's CO2-based CEAS storage is a market-ready solution that scales up to 1 GWh, which is now entering India through a partnership with NTPC. Gunjan Kapadia, Co-founder and CEO of Sthyr Energy, introduced its zinc-air battery technology, which offers long-duration storage of 10-24 hours to support deeper discharge cycles. "As we increase more and more renewables in the system, we need to have more storage in the system to balance the renewables," Saurav Mitra, Director at Sumitomo SHI FW, said, adding that "for this, we need innovative storage solutions like thermo-mechanical systems." He further demonstrated Liquid Air Energy Storage (LAES) as a thermo-mechanical, zero-critical-mineral solution with 80 per cent component sourcing already in India.
Time of India
4 days ago
- Automotive
- Time of India
India needs battery technology beyond lithium, says industry experts
India needs to explore battery technologies other than lithium-ion, which is currently leading the industry due to its high storage capacity and quick charging, suggested experts participating in India Energy Storage Week. This assumes significance as the electric vehicle (EV) market is gaining significant traction in the country, paving the way for a more sustainable future. Batteries are one of the key components of EVs, with Li-ion technology currently leading the industry due to its high energy density and quick charging, a statement said. However, it stated that concerns over the limited availability of raw materials for these batteries could create production challenges and potential shortages. This highlights the urgent need for alternative battery technologies . Researchers and experts are actively exploring innovative solutions, with Vanadium Redox Flow Batteries (VRFB), thermo-mechanical systems, and sodium-ion technologies emerging as promising developments that could transform the EV industry and drive the next generation of electric vehicles. VRFB is a rechargeable energy storage solution that leverages vanadium ions for enhanced longevity. The global market for VRFB was valued at USD 394.7 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 19.7 per cent from 2024 to 2030. Concerning this, industry experts and leaders highlighted that "India needs battery technology beyond Lithium-ion", at India Energy Storage Week (IESW) 2025, organised by industry body India Energy Storage Alliance (IESA) from July 8-11. Industry experts demanded that India needs to expand non-lithium energy storage technologies to address its rapidly growing and diverse energy demands. They emphasised the necessity for alternative solutions to ensure grid stability, meet industrial loads, and promote clean mobility. Avishek Kumar, Co-founder and CEO of VFlowTech, emphasised, "While lithium-ion batteries have reached the mass adoption stage, there is a growing need to diversify energy storage solutions ." India should look beyond lithium. Highlighting the rise of sodium-ion batteries as a cost-effective, temperature-resilient alternative ideal for stationary applications, William Tope, CEO of LiNa Energy, said, "As we start to move towards very high penetrations of intermediate renewable generation, the importance of other battery industries and long duration energy storage to load shift at large scale from the off peak period to the peak period is incredibly important." Paul Smith of Energy Dome said the company's CO2-based CEAS storage is a market-ready solution that scales up to 1 GWh, which is now entering India through a partnership with NTPC. Gunjan Kapadia, Co-founder and CEO of Sthyr Energy, introduced its zinc-air battery technology , which offers long-duration storage of 10-24 hours to support deeper discharge cycles. "As we increase more and more renewables in the system, we need to have more storage in the system to balance the renewables," Saurav Mitra , Director at Sumitomo SHI FW, said, adding that "for this, we need innovative storage solutions like thermo-mechanical systems." He further demonstrated Liquid Air Energy Storage (LAES) as a thermo-mechanical, zero-critical-mineral solution with 80 per cent component sourcing already in India. These advancements indicate that India's future in energy storage will be diverse, community-focused, and environmentally sustainable, it stated.
Mint
14-05-2025
- Business
- Mint
VFlowTech raises $20.5 mn to expand battery solution operations in India
New Delhi: VFlowTech, a Singapore-based energy storage solution provider, has raised $20.5 million in a funding round led by Granite Asia to accelerate its expansion into India's renewable energy sector, focusing on long-duration energy storage and artificial intelligence (AI)-driven energy management. The round saw participation from Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and existing investors including İnci Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First, the company said in a statement on Wednesday. The funding will be used to upgrade VFlowTech's 100 MWh manufacturing plant in India to a gigafactory and ramp up deployment of its Vanadium Redox Flow Batteries (VRFB) across the country. The company also plans to expand its workforce in engineering, research, and operations to support the rollout of locally manufactured battery energy storage systems (BESS) tailored to India's grid conditions, according to the statement. 'With our AI energy platform, we intend to build digital brains to India's energy backbone, while scaling our local manufacturing capabilities and creating high-quality jobs in the country,' said Avishek Kumar, co-founder and chief executive officer of VFlowTech. With several grid-scale and microgrid deployments already in place, VFlowTech is currently in advanced discussions with renewable energy developers and industrial customers in India to deploy up to 1 GWh of VRFB systems in the next few years. Anand Anupam, chief commercial officer of VFlowTech said, 'We're building long-term partnerships in India to demonstrate how clean, smart storage can power entire cities, industries, and states.' Founded in 2018, VFlowTech specializes in vanadium redox flow battery (VRFB) systems and hybrid batteries designed for long-duration energy storage.
Time of India
14-05-2025
- Business
- Time of India
VFlowTech raises $20.5 million to set up battery Gigafactory, expand India operations
New Delhi: VFlowTech has raised $20.5 million (approximately ₹170 crore) in funding to scale up its long-duration energy storage operations in India and expand the deployment of its Vanadium Redox Flow Batteries (VRFB). The Singapore-based energy storage firm plans to upgrade its 100 MWh battery manufacturing facility in India into a Gigafactory and build out AI-driven energy management systems. The funding round was led by Granite Asia, with participation from Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and returning investors including İnci Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First. The capital raise signals growing investor interest in vanadium redox flow battery (VRFB) technology to support grid stability and enable long-duration renewable energy integration. VFlowTech said the technology is suited for India's rapidly evolving energy market, with applications across utility-scale installations, microgrids, and commercial and industrial (C&I) energy systems. 'India is at a tipping point in its clean energy journey. With this funding, we are not just bringing advanced energy storage technologies to market — we are shaping the future of sustainable energy infrastructure in the region," said Dr. Avishek Kumar, Co-Founder and CEO of VFlowTech. 'With our AI energy platform, we intend to build digital brains to India's energy backbone, while scaling our local manufacturing capabilities and creating high-quality jobs in the country,' he added. The company said it will use the funds to expand hiring in engineering, research, and operations functions in India. It also plans to invest in vanadium recycling and develop innovation in electrolyte manufacturing to build supply chain resilience within the country. 'India represents one of the most exciting opportunities for energy transition. With its ambitious renewable energy targets and increasing need for grid stability, coupled with the policy momentum, our long-duration storage and AI-integrated systems are a perfect fit for enabling a reliable, 24/7 clean power future,' said Anand Anupam, Chief Commercial Officer of VFlowTech. The firm said it is in advanced discussions with renewable energy developers and industrial customers to deploy up to 1 GWh of VRFB systems in India over the next few years. It already has grid-scale and microgrid installations operational in the country. 'This investment marks a turning point not just for VFlowTech, but for how India can adopt sustainable energy storage at scale,' Anupam added. 'We're building long-term partnerships in India to demonstrate how clean, smart storage can power entire cities, industries, and states.' According to the Ministry of New and Renewable Energy (MNRE), India's total installed renewable energy capacity stood at 220.10 GW as of FY 2024-25, reflecting an increase of 29.52 GW over the previous year. The country aims to reach 500 GW of non-fossil fuel-based capacity by 2030 under its Panchamrit commitments, which the ministry has stated will require large-scale deployment of long-duration energy storage technologies alongside additional renewable capacity.
Entrepreneur
14-05-2025
- Business
- Entrepreneur
VFlowTech Raises USD 20.5 Mn to Power India's Clean Energy Future
The fresh capital will be deployed to scale VFlowTech's 100 MWh manufacturing plant in India into a full-fledged Gigafactory and to accelerate the deployment of its vanadium redox flow batteries (VRFB) across the country. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Singapore-headquartered VFlowTech, a deep-tech leader in sustainable long-duration energy storage, has raised USD 20.5 million in a strategic funding round led by Granite Asia. The round also saw participation from Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and returning investors like İnci Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First. The fresh capital will be deployed to scale VFlowTech's 100 MWh manufacturing plant in India into a full-fledged Gigafactory and to accelerate the deployment of its vanadium redox flow batteries (VRFB) across the country. It also plans to enhance its AI-driven cloud energy management platform, aimed at optimising distributed energy usage and providing ancillary grid services. "India is at a tipping point in its clean energy journey. With this funding, we are not just bringing advanced energy storage technologies to market — we are shaping the future of sustainable energy infrastructure in the region," said Avishek Kumar, Co-founder and CEO of VFlowTech. "We intend to build the digital brain of India's energy backbone while scaling our manufacturing footprint and creating high-quality jobs." Founded in 2018 by Avishek Kumar and Arjun Bhattarai, VFlowTech pioneers in VRFB and hybrid battery systems, designed for long-duration storage. Its proprietary technology emphasises safety, scalability, and longevity, offering more than 25 years of operational life with no degradation. The startup claims to have deployed its systems in over 10 countries and is currently in talks to deploy up to 1 GWh of VRFB capacity with Indian renewable energy developers. VFlowTech's AI-driven energy platform complements its BESS solutions by enabling real-time monitoring, optimisation, and energy trading. The company will also invest in vanadium recycling and electrolyte manufacturing in India to build a robust domestic supply chain. "India represents one of the most exciting opportunities for energy transition," said Anand Anupam, Chief Commercial Officer of VFlowTech. "Our solutions are ideally positioned to support India's 500 GW non-fossil fuel target by 2030, ensuring 24/7 clean power with grid reliability." This milestone investment signals a pivotal moment for India's energy future, as VFlowTech's innovative technologies are poised to play a central role in enabling long-duration, AI-optimised energy storage at scale.
