Greenfuel & Noco-noco Collaborate to Enhance Lithium-ion Batteries
Noco-noco and Greenfuel Energy Solutions, two companies, have agreed to work together to make India’s electric transportation cleaner and better. They will use special battery technology to do this. Noco-noco has a technology called X-SEPATM that can make lithium-ion batteries last five times longer.
Greenfuel Energy Solutions, a company in India that has been making clean energy products for 17 years, wants to use this technology in its electric vehicle batteries. This could make the batteries work better, last longer, and open up new business chances.
As per their agreement, noco-noco will give Greenfuel special battery cells, and Greenfuel will make battery packs from these cells. Greenfuel will also handle selling and marketing in India and Africa. They plan to use these batteries for different things, like drones and battery-swapping services.
They will do this in several steps. Noco-noco will supply Greenfuel with 3MWh of battery cells every three months. This amount is one-third of what noco-noco plans to make in their factory, which will start in 2024. This plan is happening at the same time as noco-noco buys noco-tech, the company that created the X-SEPA™ technology.
“By aligning with Greenfuel, noco-noco is strategically positioned to capitalise on the nascent but growing battery solutions space in India. This collaboration, which combines our ‘all weather’ battery technology with Greenfuel’s leadership in the EV clean energy and transport space, presents a lucrative avenue for revenue growth in India’s surging e-mobility sector. It evidences our business strategy to bring clean electrification solutions to the Indian market. At the same time, it supports our corporate mission to strengthen ground-up decarbonisation goals and value chains.”Masataka Matsumura, CEO of noco-noco said.
“We are thrilled to announce our strategic partnership with noco-noco, a collaboration that marks a significant leap forward in our commitment to deliver cutting-edge solutions for the electric mobility sector. Our joint efforts are poised to extend the battery life of our two and three-wheeler lithium-ion batteries by more than three times.”Akshay Kashyap, MD and Founder, of Greenfuel Energy Solutions said.
“This revolutionary technology along with meticulously designed battery packs that are proudly made in India can now lower the total cost of ownership of EVs, making them much cheaper than their ICE counterparts. For the first time in India, such value is being offered to customers, aligning seamlessly with our brand’s commitment to a ‘Customer First’ approach to driving technological innovation,”said Kashyap.
Content Credit: EVMechanica