Battrixx and EVE Power will co-operate for Battery Energy Storage System solutions in India

Kabra Extrusion Technik Ltd. (BSE - 524109, NSE - KABRAEXTRU, ISIN: INE900B01029) and Eve Power Co. Ltd. (EVE) agreed to co-operate to deliver advanced Battery Energy Storage System (BESS) solutions in India.

The companies will combine their respective strengths, where EVE will supply battery cells and DC side ESS products to Kabra, and Kabra will assemble and integrate these products at its manufacturing facility in India. This collaboration aims to harness the world's best technology with the advantage of local production, creating a competitive edge in the market.

Currently, Kabra Extrusiontechnik Limited, under the BATTRIXX brand, is a leading manufacturer of Lithium-Ion batteries for the E-Mobility market in India, with a production capacity of 2GWh.

"The Battery Energy Storage System (BESS) market in India is witnessing significant growth driven by several factors such as increasing renewable energy integration, grid stability concerns, and the rising demand for reliable power supply. The demand for BESS market is set to soar and will be a major disruptor in India's power sector in the coming years.," said Ekta Kabra, Managing Director of Kabra Extrusiontechnik Limited. According to the Central Electricity Authority's (CEA) latest optimal generation mix report, the BESS market in India is projected to exceed 208 GWh by 2030.

Ekta further emphasized, "Renewable energy growth is pivotal to the expansion of the BESS market in India. We are thrilled to work with EVE to deepen our cooperation in the green energy sector and for the development of Battery Energy Storage System (BESS). This cooperation shows our dedication to transforming the energy industry and fostering a greener future."

Shares of Kabra Extrusion Technik Limited was last trading in BSE at Rs. 403.05 as compared to the previous close of Rs. 393.05. The total number of shares traded during the day was 14442 in over 748 trades.

The stock hit an intraday high of Rs. 410.00 and intraday low of 388.90. The net turnover during the day was Rs. 5774645.00.

Source : Equity Bulls

Keywords

KabraExtrusionTechnik INE900B01029 Battrixx EVEPowerCo BatteryEnergyStorageSystem India