New Delhi: noco-noco Pte Ltd (noco-noco), the wholly-owned subsidiary of noco-noco Inc, and Greenfuel Power Options Pvt Ltd have signed a Memorandum of Understanding (MOU) geared toward revolutionizing India’s clear electrical mobility panorama by way of batteries with superior effectivity, efficiency, and longevity.
On the coronary heart of this collaboration lies noco-noco’s X-SEPA separator expertise able to extending the lifetime of the standard lithium-ion batteries fivefold, when used with a proprietary electrolyte, Greenfuel stated in a launch.
Greenfuel is India’s main supplier of fresh mobility and vitality storage options with a 17-year legacy of belief and reliability within the Indian market. As one of many main suppliers of electrical automobile (EV) parts to main automotive producers in India, the corporate has offered over 100 thousand batteries powering EVs overlaying greater than 80 million km on Indian roads, the discharge stated.
The collaboration avails noco-noco’s groundbreaking separator expertise to be embedded into Greenfuel’s EV batteries, enhancing efficiency and unlocking additional use-case alternatives inside the battery-related companies sector.
Synergizing for fulfillment: Underneath the phrases of the MOU, noco-noco will provide Greenfuel with cells inbuilt with the X-SEPA™ expertise and Greenfuel will manufacture battery packs with these cells. Greenfuel may even spearhead advertising and marketing and gross sales actions in India and Africa, catering to a various vary of functions together with Drone as a Service (DaaS) and Battery as a Service (BaaS) for options corresponding to battery swapping.
The collaboration will unfold in a number of phases, with the ultimate manufacturing capability decided by noco-noco (or its designated third get together) supplying 3MWh of the cells on a quarterly foundation. This determine would account for a 3rd of noco-noco’s deliberate in-house 35MWh manufacturing capability anticipated to launch in 2024 with the acquisition of noco-tech, the R&D firm on the forefront of growing the X-SEPA.
Masataka Matsumura, CEO of noco-noco, stated, “By aligning with Greenfuel, noco-noco is strategically positioned to capitalize on the nascent however rising battery options area in India. This collaboration, which mixes our ‘all climate’ battery expertise with Greenfuel’s management within the EV clear vitality and transport area, presents a profitable avenue for income progress in India’s surging e-mobility sector. It evidences our enterprise technique to convey clear electrification options to the Indian market. On the identical time, it helps our company mission to strengthen ground-up decarbonization objectives and worth chains.”
Akshay Kashyap, MD and founder, Greenfuel Power Options, stated, “We’re thrilled to announce our strategic partnership with noco-noco, a collaboration that marks a major leap ahead in our dedication to ship cutting-edge options for the electrical mobility sector. Our joint efforts are poised to increase the battery lifetime of our two and three-wheeler lithium-ion batteries by greater than 3 times.”
“This revolutionary expertise together with meticulously designed battery packs which are proudly made in India can now decrease the full price of possession of EVs, making them less expensive than their ICE counterparts. For the primary time in India, such worth is being supplied to prospects, aligning seamlessly with our model’s dedication to a ‘Buyer First’ strategy to driving technological innovation,” he stated.
India’s surging electrification wants: The Indian lithium-ion battery market is quickly rising and, in accordance with analysts, is anticipated to achieve a worth of USD 25,309.59 million by 2031 with a CAGR of twenty-two.1% inside the forecast interval.
With India aiming to attain its 500 GW renewable vitality capability goal by 2030, the federal government has projected the vitality storage capability requirement by the identical yr to be 41.65 GW from Battery Power Storage Methods (BESS) with storage of 208.25 GWh to handle the intermittency of renewable vitality and steadiness the grid.
As well as, the Indian authorities’s initiatives to impress its home transport are fuelling the rising reputation of EVs, and at the moment, 90% of India’s 2.3 million EVs fall beneath the two- or three-wheeler classes.
In India, electrical tricycle rickshaws, a typical and reasonably priced mode of public transport, want batteries with 3000 cycle capacities at 45°C. Nevertheless, the present capability averages round 1000 cycles. noco-noco’s X-SEPA expertise permits for 3000 cycles at 60°C whereas sustaining efficiency at 0°C. Importantly, it has demonstrated no abnormalities, corresponding to short-circuits or fire-causing swelling, even when cells embedded with the expertise have been uncovered to 150°C situations for an hour. These technological developments might present game-changing EV batteries and vitality storage options for a rustic with various temperature ranges.
Ashok Choudhary, President of the Fuel Gasoline and Battery Division at Greenfuel, stated, “We’re thrilled to embark on a ground-breaking partnership with noco-noco, poised to redefine the panorama of two and three-wheeler battery packs in India. Collectively, we envision a future the place e-mobility autos set new requirements of high quality, reliability, and scalability. The mixing of noco-noco’s cutting-edge X-SEPA™ separator expertise is a testomony to our dedication to sustainable transportation. This collaboration not solely strengthens our resolve to offer eco-friendly options but additionally paves the best way for a greener, extra environment friendly period within the Indian EV market. We consider this synergy will drive a revolution in the best way we energy our two and three-wheelers, shaping a cleaner and extra sustainable tomorrow.”
Mari Matsushita, Chief Product Officer of noco-noco, stated, “India’s transportation sector is witnessing a radical shift with the widespread adoption of EVs rising as a key technique to curb carbon emissions and decrease tailpipe air pollution. Extending the lifespan of EV batteries not solely encourages adoption but additionally reduces general possession prices for 2 and three-wheeler operators. Given these dynamics, noco-noco’s experience is exceptionally well-suited for the distinctive calls for of one of many world’s fastest-growing clear vitality and mobility markets.”
