Himadri Speciality To Buy 16.2% In US Battery Maker For $4.43 Million

Himadri Speciality Chemical Ltd. on Thursday said its board has approved the acquisition of a 16.24% stake in US-based International Battery Co. Inc. for $4.43 million on a fully diluted basis. The deal is expected to close within 30 days, the company said in an exchange filing.

International Battery develops and manufactures prismatic lithium-ion cells with a chemistry-agnostic approach. The strategic investment gives Himadri access to the US firm’s manufacturing base in South Korea and its upcoming gigafactory in Bengaluru.

The partnership also ensures a steady supply of high-quality anode and cathode materials for International Battery, while leveraging Himadri’s expertise in materials science and supply chain. The alliance aims to fast-track next-gen battery technologies for mobility and energy storage, the company said.