Himadri Speciality Chemical Ltd (HSCL), a global leader in speciality chemicals, has announced a strategic investment of US$ 4.43 million (approx. Rs. 37.47 crores) to acquire a 16.24 per cent stake in International Battery Company (IBC), a US - headquartered technology developer and manufacturer of chemistry-agnostic prismatic Lithium-ion (Li-ion) cells.

The investment, made through a combination of preferred and common shares, gives Himadri representation on IBC’s board. This is a significant milestone for Himadri, marking the start of the commercial deployment of its LFP Cathode active and anode materials.

IBC is a leading innovator in prismatic cell technologies designed for energy storage and mobility applications across global markets. It operates a 50MWh lithium-ion battery cell facility in South Korea, which began production in 2023, and is developing a Gigafactory in Bengaluru, India, through its Joint Venture with Mahanagar Gas Limited (MGL is a Subsidiary of GAIL)- IBC India Pvt Ltd wherein MGL owns a 44% stake.

Commenting on the partnership, Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical Ltd, said: “We are pleased to announce our strategic investment of USD 4.43 Million (approx. ₹ 37.47 Crores) for a 16.24% stake in IBC, a trailblazer in next-generation battery technologies. This partnership marks a pivotal step in Himadri’s global clean-tech strategy and our entry into the LiB component materials market.

“Anode and cathode materials are the most critical components of a lithium-ion cell, accounting for nearly 65% of its total cost and directly influencing its performance and reliability. Our advanced materials—jointly tested with IBC—have demonstrated outstanding results, fulfilling their stringent requirements for high-performance battery manufacturing.

“Through this partnership, Himadri gains access to IBC’s global manufacturing infrastructure, customer base, and cutting-edge R&D ecosystem—including its proprietary Industrial AI platform. In return, IBC secures a reliable supply of high-performance anode and cathode materials, while leveraging Himadri’s deep expertise in materials science and global supply chains to scale its operations.

This is a win-win collaboration—one that brings together deep material science and advanced battery technology to shape the future of sustainable energy. Together, we are building a scalable, high-impact ecosystem that will power the next wave of clean mobility and energy solutions not only in India but across the globe.”

Dr. Priyadarshi Panda, Founder and CEO, International Battery Company, added: “We’re excited to have Himadri join us as a strategic partner. Their deep expertise in LFP cathode active and anode materials and forward-looking global approach makes them a strong fit for our long-term goals. This collaboration comes at a pivotal time as we scale our manufacturing and broaden our reach through a strong roadmap and truly emerge as a global chemistry agnostic product company.

“With Himadri’s backing, we’re confident in our ability to accelerate innovation and deliver high-performance cell technologies that meet the growing demands of the mobility and energy storage sectors. Furthermore, Himadri’s deep expertise in materials chemistry combined with IBC’s other initiatives in the equipment and process space enable IBC to emerge as a complete end to end player from molecule to encompassing equipment, processes and end products- providing the best custom designed solutions to our customer base in India, the US and globally.

“This partnership with Himadri is truly a game changer for IBC’s aggressive India execution and global expansion plans backed by IBC’s advanced proprietary Industrial AI (Molecular, Physical and Scientific AI) Platform.”