HEG forms subsidiary company TACC; To invest Rs. 2,000 crore for graphite node manufacturing
Battery

HEG forms subsidiary company TACC; To invest Rs. 2,000 crore for graphite node manufacturing

In Phase 2, the company plans to double the capacity with another Rs. 1,000 crore catering to a total of 20-22 MWH of cell manufacturing capacity

  • By ICN Bureau | December 28, 2022

HEG Limited has incorporated a wholly owned subsidiary company named as TACC Limited which would manufacture graphite anode for Lithium-ion cells in two phases and aims to finish both the phases in 5-7 years.

The plant would be made in two phases, spending Rs. 1,000 crore in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity. In Phase 2, the company plans to double the capacity with another Rs. 1,000 crore approximately catering to a total of 20-22 MWH of cell manufacturing capacity.

The company aims to finish both the phases in 5-7 years. The company would be engaged in production of graphite anodes for lithium ion cells and other advanced materials as a part of the innovation wing. In order to support the local industrial growth, the Indian government's PLI scheme mandates 60% domestic value addition for cell production. Anode material produced by us will play an important role meeting this requirement.

The company shall leverage the position of its parent as a graphite industry leader to research and develop next-generation graphite and its specialized derivative materials for clean energy storage and conversion technologies beginning with anode for Li–ion batteries.

The company will make a significant contribution to the sustainable and technological advancement of our nation and planet in the field of materials manufacturing for green energy technologies over the next decade.

Newly incorporated wholly owned subsidiary will have the following objectives: To produce graphite anode for lithium ion cells and other advanced carbon and anode materials for various energy storage systems and materials manufacturing for green energy technologies mainly focusing on carbon and graphite based materials as anode to contribute to the sustainability and technological advancement of the global energy ecosystem; and to research and develop next-generation graphite or anode and its specialized derivative materials for clean energy storage and conversion technologies beginning with anode for Li-ion batteries including but not limited to fuel cells and electrolyzers.

The company subscribed 1,00,00,000 equity shares of face value of Rupees ten each aggregating to Rupees ten crore only.

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