Yuma Energy, a leading Battery-as-a-Service (BaaS) provider in India, has acquired Chennai-based Grinntech Motors & Services Pvt. Ltd., a start-up specializing in energy storage solutions. This acquisition aligns with Yuma Energy’s mission to accelerate the adoption of clean energy solutions by integrating advanced battery technology, research, and manufacturing expertise into its operations.
By incorporating Grinntech’s innovations, Yuma Energy plans to establish a vertically integrated BaaS ecosystem encompassing battery design, production, charging infrastructure, a swapping network, and digital customer solutions. “This acquisition enhances our capabilities in battery management systems, research, and manufacturing,” said Muthu Subramanian, Managing Director & General Manager of Yuma Energy. “With Grinntech’s technology, we will continue to improve performance, reliability, and safety.” The two companies have been collaborating for over 18 months, including the recent launch of a jointly developed battery at the Bharat Battery Show in New Delhi in January 2025.
Grinntech, known for its advanced energy storage solutions for electric vehicles and industrial applications, brings a wealth of expertise to Yuma Energy. “We are excited to join Yuma Energy and contribute to the evolution of battery technology,” said Puneet Jain, Co-founder of Grinntech. His fellow Co-founder, Nikhilesh Mishra, added, “Together, we will drive innovation and support India’s transition to a sustainable future.”
With this acquisition, Yuma Energy strengthens its position in India’s growing electric mobility sector by offering cutting-edge battery swapping, intelligent charging infrastructure, and digital management solutions. Grinntech’s experience in developing high-performance, cost-effective, and safe energy storage systems will further enhance Yuma’s ability to deliver efficient and sustainable energy solutions.
Yuma Energy is India’s leading Battery-as-a-Service (BaaS) provider, committed to making mobility accessible, affordable, and sustainable. By offering efficient energy-as-a-service solutions, the company enables carbon-free transportation through a reliable and convenient battery-swapping network. Leveraging technology and data-driven decision-making, Yuma ensures 99% uptime and an average swap time of under one minute. With over 20 million swaps completed and more than 800 million kilometers of green journeys powered, Yuma Energy is backed by global mobility leader Magna and India’s largest shared electric mobility company, Yulu.
Grinntech Motors & Services Pvt. Ltd., founded in 2013 by IIT alumni Puneet Jain and Nikhilesh Mishra, is a Chennai-based innovator specializing in lithium-ion battery solutions for electric vehicles (EVs) and energy storage. The company offers a wide range of products, including fully integrated battery packs, off-the-shelf solutions, and custom-engineered systems with proprietary battery analytics. With automated manufacturing, modular production layouts, and expertise in thermal and mechanical design, battery management, and electrical safety, Grinntech ensures high-performance, safe, and long-lasting battery solutions tailored to the growing EV market.
