Shyam Metalics and Energy Limited, an integrated metal manufacturer, made its debut in the energy storage market on Monday with battery-grade aluminium foil, a key component in lithium-ion cells.
Shyam Metalics & Energy Ltd. is India’s leading integrated metal manufacturer. West Bengal, Odisha, and Madhya Pradesh are the locations of the company’s three production sites.
Shyam Metalics & Energy Ltd manufactures long steel goods such as sponge iron, billets, TMT bars, wire rods, and ferroalloys. Pellets, pig iron, and ductile iron pipes are also manufactured by the firm.
The firm has a substantial home presence and sells its goods to other countries, including Nepal, Bhutan, Bangladesh, and the Middle East. Shyam Metalics & Energy Ltd has a broad distribution network and sells to a variety of sectors, including construction, infrastructure, automobiles, and engineering.
The Kolkata-based firm produces and exports aluminium foil for a variety of industrial uses, with an annual manufacturing capacity of 20,000 tonnes.
350 tonnes of high-quality and uniform-thickness aluminium foil, which works as a positive (cathode) current collector, are needed for the manufacturing of 1GWh (Gigawatt-hour) of LFP (Lithium Iron Phosphate) cells, which power a broad range of electric cars and energy storage devices. The demand for sodium-ion batteries, which use aluminium foil as both positive and negative current collectors, is predicted to double.
According to the business, the customized battery aluminium foil from Shyam Metalics with thicknesses ranging from 12-micron to 20-micron has been verified and certified by third-party labs.
India spent $1.8 billion to import 5,486.18 kWh lithium-ion batteries between April and November 2022, compared to $1.83 billion in 2021-22, indicating an increase in imports due 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 and Managing Director.
Shyam Metalics & Energy Ltd shares were up 1.04 percent as of 2:50 p.m., while the benchmark indexes were up around 0.12 percent.
