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					</table><p>Graphite India (<a href="https://www.graphiteindia.com/" target="_blank" rel="noopener">GIL</a>), a graphite electrode manufacturer, has entered into a definitive transaction to invest ₹500 million (~$6 million) in compulsory convertible preference shares of <a href="https://www.godienergy.com/" target="_blank" rel="noopener">GODI India</a>, a battery technology company.</p>
<p>GODI India, backed by <a href="https://www.blueashvacapital.com/" target="_blank" rel="noopener">Blue Ashva Capital</a>, specializes in advanced chemistry research and development to support the manufacturing of sustainable batteries for electric vehicles (EVs) and supercapacitor-based energy storage systems.</p>
<p>The investment would provide Graphite India with a 31% equity shareholding in GODI on a fully diluted basis.</p>
<p>With a focus on high-power density lithium-ion batteries, GODI claims to have expertise in emerging technologies like sodium-ion and solid-state batteries.</p>
<p>The company’s technology portfolio includes environmentally friendly and carbon-neutral processes.</p>
<p>The global surge in EV sales and the growing demand for energy storage systems underscore the attractive industry dynamics for battery cell and supercapacitor production.</p>
<p>Ashutosh Dixit, Executive Director of Graphite India, said, “This move is part of Graphite India’s strategy to diversify into advanced battery and energy storage systems technologies. GODI India&#8217;s leadership in developing various battery technologies aligns with our commitment to technological innovation and growth, marking a significant step towards creating a diversified business portfolio.”</p>
<p>Founder and Director of GODI India Mahesh Godi, said, “Our battery materials and components, developed through environmentally friendly processes, cater to the dynamic electric vehicle and consumer electronics markets.”</p>
<p>“Additionally, our supercapacitors find applications in regenerative energy storage systems across various industries. We welcome this strategic partnership with Graphite India for their expertise in carbon and electrode manufacturing and their perspectives on synergistic technologies,” Godi added.</p>
<p>Graphite India has a production capacity of 98,000 MT per annum across three facilities in India and Germany. The company is expanding its presence in value-added graphite products for diverse industries such as automotive, aerospace, chemical, pharmaceutical, metallurgical, and machine tools.</p>
<p>With a total renewable energy capacity of 18 MW, Graphite India aims to increase it to 37 MW by March 2024.</p>
<p>The government of India recently <a href="https://www.mercomindia.com/government-cost-for-critical-mineral-exploration" target="_blank" rel="noopener">announced</a> a 25% incentive on the approved project cost for exploration agencies to encourage private parties&#8217; mining of critical minerals. India has also identified 30 critical minerals, including graphite, lithium, and cobalt, which can be converted into material used in clean energy technologies.</p>
<p>Recently, China’s Ministry of Commerce <a href="https://www.mercomindia.com/china-curbs-export-graphite-ev-batteries" target="_blank" rel="noopener">announced</a> ‘temporary’ export control of sensitive graphite products, including highly sensitive spheroidized graphite, primarily used in EV batteries. The move, it said, was to ensure the stability and security of the global supply chain and safeguard national interests.</p>


Graphite India Forays into Battery Tech with ₹500 Million Investment in GODI

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