From pv journal India

Maxvolt Energy Industries, a producer and provider of lithium battery packs for electrical automobiles, vitality storage programs, and medical gadgets, has raised $1.5 million in funding from numerous angel buyers.

The firm mentioned the funding will help its plans to develop sustainable vitality options and strengthen its market place by shortly introducing fast-charging lithium-ion batteries.

Maxvolt mentioned it goals to develop world-class lithium batteries for numerous sectors, together with electrical bikes, scooters, and photo voltaic vitality programs.

“As a purpose-driven group, Maxvolt is devoted to offering eco-friendly vitality options via our cutting-edge lithium-based batteries,” mentioned Satendra Shukla, chief enterprise officer of Maxvolt Energy. “We have developed a quick charging resolution to scale back charging instances for purchasers. In the prototype growth part, the corporate goals to launch the ultimate product within the last phases of 2024 After full R&D, we’ll scale back the charging time to 2 hours and one hour within the subsequent part.”

Shukla mentioned that the worldwide lithium-based battery business is anticipated to achieve a complete addressable market of $300 billion by 2035. He mentioned that Maxvolt is strategically positioned to make the most of this rising demand for sustainable batteries. vitality resolution. The new funds will speed up R&D efforts, enhance manufacturing capability, and develop market attain. Shukla mentioned this may allow the corporate to scale back its carbon footprint via sustainable practices and revolutionary know-how.

Maxvolt repurposes used batteries for second life functions in small rechargeable purposes reminiscent of photo voltaic road lights, routers, CCTV cameras, transportable lights and toys. The firm additionally introduced plans to construct cutting-edge recycling crops.

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