Shyam Metalics and Energy Limited, an integrated metal producer on Monday announced its entry into energy storage sector with battery-grade Aluminum foil, a critical component in Lithium-ion cells.
The company based in Kolkata is a producer and exporter of Aluminum foil for various industrial applications with an annual production capacity of 20,000 tons.
For the production of 1GWh (Gigawatt-hour) of LFP (Lithium Iron Phosphate) cells, which powers a wide variety of electric vehicles and energy storage systems, 350 tons of high purity and uniform-thickness aluminum foil is required that acts as a positive (cathode) current collector. The demand doubles for Sodium-ion batteries where both positive and negative current collectors is expected to be using aluminum foils.
The customized battery aluminum foil from Shyam Metalics with thickness ranging from 12-micron to 20-micron has been tested and validated by third-party laboratories, according to the company.
India spent USD 1.8bn to import 5,486.18 kWh lithium-ion batteries during April-November 2022 period as against the import of 6,167.68 lakh units of lithium-ion batteries for USD 1.83bn in 2021-22, indicating a growth in imports consequently to rising demand for electric vehicles and green energy solutions.
“We are thrilled to foray into manufacturing battery foil and support the government to mobilize resources to indigenize battery cell manufacturing. We believe that India’s energy transformation will skyrocket as we delve into lithium-ion battery foil manufacturing, supporting the government’s efforts to localize battery cell production,” said Brij Bhushan Agarwal, Vice Chairman & Managing Director.
The shares of Shyam Metalics & Energy Ltd were trading with gains of 1.04% as of 2:50 pm, while the benchmark indices were up roughly 0.12%.
