PRNewswire
Bengaluru (Karnataka) [India], July 22: Nash Energy, India's only mass-scale LFP cell manufacturer, and US-based Rincell Corporation, a developer of rechargeable cells based on next-generation chemistries, have signed a Memorandum of Understanding (MoU) to collaborate on producing advanced battery NMC cells in India, marking a significant step toward strengthening the country's clean energy and electric vehicle sectors.
* Strategic Partnership: Nash Energy and Rincell have signed an MoU to collaborate on sale and manufacturing advanced NMC battery cells in India.
* Technology Transfer: Rincell will transfer its high-C rate cell technology to Nash Energy.
* Manufacturing Setup: Nash Energy is India's first mass-scale cylindrical lithium-ion cell manufacturer. Nash Energy will establish a Giga factory capable of multi-chemistry cell manufacturing in India in a phased manner.
* Market Focus: The partnership will target drones, defence, aerospace applications and electric vehicles, with a revenue-sharing sales model.
* Customer Engagement & Roadmap: Both companies will collaborate closely with key customers, leveraging strong interest and momentum to shape next-generation battery cell designs and commercial agreements.
Nash Energy has already emerged as a pioneer in the industry setting up India's first mass-scale LFP Cell manufacturing unit in Bengaluru, and has more than 15 Indian and global clients. Nash Energy plans to build a manufacturing plant with a capacity of around 10 GWh in a phased manner, aligned with customer demand and commercial commitments.
Under the agreement, Rincell will transfer its cutting-edge technology for Nickel Manganese Cobalt Cathode (NMC) battery cells to Nash Energy. In return, Nash Energy will set up a manufacturing facility in India to produce these high-performance battery cells and lead go-to-market and commercialization efforts.
The partnership will initially focus on producing Rincell's high-energy and high-power battery cell formats -- the 18650 (4.1Ah capacity), 21700 (5.8Ah Capacity), and NMC cells (5Ah capacity with 5C and 4Ah capacity with 8C) -- tailored to meet diverse customer needs. Both companies will work closely with Tier-1 and Tier-2 customers to build on existing purchase commitments and collaboratively explore next-generation battery cell designs
The collaboration targets key sectors including drones, defense, aerospace applications and electric vehicles sectors, reflecting the growing demand for reliable, locally manufactured battery solutions.
"We're thrilled to partner with Rincell to bring advanced battery technology to India," said Sanjay S. Wadhwa, Managing Director of Nash Energy. "This initiative will help accelerate the adoption of clean energy and electric mobility in the country."
Jignesh Parikh, Co-Founder and CEO of Rincell Corporation, added, "This partnership enables us to combine our cutting-edge technology with Nash Energy's local expertise, creating new opportunities to serve India's and the global fast-growing energy market."
The companies will continue to refine their technology roadmap based on customer feedback, ensuring they stay ahead in battery innovation.
About Nash Energy
Nash Energy is part of NASH Group and is India's first and only mass-scale LFP cell manufacturer with a 600Mwh capacity unit in Bengaluru. It is a leader in renewable energy solutions, committed to delivering sustainable power technologies globally. It also owns a R&D Centre in Japan and concentrates on making India self-reliant in the energy storage sector.
About Rincell Corporation
Rincell Corporation is based in US and was founded to accelerate the electrification of high-impact carbon emission products, fostering a sustainable future with a secure supply chain. Rincell is committed to US & allied manufacturing of its high-performance Silicon-Graphite, & Sodium-ion batteries for government and commercial applications.
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