Himadri Speciality Chemical Ltd (HSCL), a leading player in specialty chemicals, has announced a strategic investment of USD 4.43 million (approximately ₹37.47 crore) for a 16.24% stake in International Battery Company Inc (IBC), a U.S.-based innovator in prismatic Lithium-ion (Li-ion) cell technologies. This investment, which combines preferred and common shares, also secures Himadri a seat on IBC’s board. The move marks a major milestone in Himadri’s expansion into the commercial deployment of LFP cathode active and anode materials.
IBC is a pioneer in the development of prismatic cell technologies tailored for energy storage and mobility applications. The company operates a 50MWh battery manufacturing facility in South Korea, which began production in 2023, and is developing a Gigafactory in Bengaluru, India, in partnership with Mahanagar Gas Limited (MGL). The Bengaluru facility, set to begin operations by Q4 FY26, will serve both domestic and international markets, providing advanced battery solutions for B2B fleet providers and OEMs in the two- and three-wheeler segments.
IBC has already gained a foothold in the electric vehicle (EV) market, with more than 500 EVs running on its battery packs, produced using its NMC-based Prabal 1000 Li-ion cells. The company’s open order book includes 4,300 electric two-wheelers from six customers. The Bengaluru Gigafactory will also meet energy demands from MGL’s vehicles, further enhancing the capacity for battery production in India.
This partnership between Himadri and IBC represents a significant step in the evolution of the global battery materials industry. Combining Himadri’s expertise in advanced cathode and anode materials with IBC’s cutting-edge prismatic cell technology, the collaboration is positioned to accelerate the development of high-performance, scalable, and sustainable battery solutions, particularly for energy storage and mobility markets.
The partnership provides Himadri with access to IBC’s advanced manufacturing infrastructure in South Korea and the soon-to-be-launched Gigafactory in Bengaluru, facilitating the testing and deployment of its next-generation energy materials. In return, IBC gains a reliable source of high-quality anode and cathode materials, which are vital to battery performance and cost efficiency, while benefiting from Himadri’s vast experience in material science and global supply chain management.
The collaboration is further strengthened by access to IBC’s proprietary Industrial AI platform, which will drive rapid innovation and co-development of advanced battery materials. The successful commercialization of Himadri’s materials through IBC’s infrastructure opens up significant opportunities in global markets, positioning Himadri as a key player in the international battery value chain.
This strategic partnership is also a major step forward for India’s clean energy ecosystem. By anchoring cutting-edge battery cell manufacturing and materials innovation in the country, the collaboration contributes to creating a self-reliant, globally competitive energy storage value chain. The Bengaluru Gigafactory is poised to meet both domestic demand and position India as a hub for global battery exports, supporting the nation’s growing role in the global energy transition.
Anurag Choudhary, Chairman & CEO of Himadri Speciality Chemical Ltd, shared, “We are excited to announce our investment in IBC, a leader in next-generation battery technologies. This partnership marks a significant milestone in our global clean-tech strategy and entry into the lithium-ion battery material market. By combining our expertise in high-performance materials with IBC’s cutting-edge cell technology, we are building a scalable ecosystem for sustainable energy solutions. This collaboration not only strengthens our global presence but also drives India’s position in the global battery manufacturing landscape.”
Dr Priyadarshi Panda, Founder & CEO of IBC, added, “We are thrilled to welcome Himadri as a strategic partner. Their expertise in advanced cathode and anode materials, combined with their global approach, aligns perfectly with IBC’s long-term vision. This partnership comes at a pivotal moment as we scale our manufacturing capabilities and expand our product offerings. Together, we are poised to revolutionize the mobility and energy storage sectors, delivering high-performance cell technologies that meet the increasing demand for clean, sustainable energy solutions.”
Himadri Speciality Chemical Ltd is a global leader in specialty chemicals, renowned for its innovation and commitment to sustainability. A pioneer in lithium-ion battery component materials in India, Himadri is dedicated to advancing the energy storage sector through continuous research and development. The company’s diverse product range includes specialty carbon black, coal tar pitch, advanced materials, and clean energy solutions, catering to industries such as batteries, automotive, paints, plastics, and more. With a presence in 56 countries, Himadri is dedicated to corporate governance, safety, and environmental sustainability, operating eight zero-liquid discharge manufacturing facilities.
International Battery Company Inc (IBC) specializes in the design, development, and manufacture of prismatic lithium-ion cells for niche players in mobility and energy storage sectors. IBC operates a 50MWh manufacturing facility in South Korea and is set to launch a Gigafactory in Bengaluru, India, in collaboration with Mahanagar Gas Limited. The company’s flagship product, the NMC-622 cell, offers enhanced energy density, safety, and cycle life. IBC is expanding rapidly to meet the growing demand for energy storage solutions in global markets, with a focus on delivering advanced cell technologies to the electric vehicle and energy storage industries.
