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RCRS Innovations to Invest INR 50 Crore to Scale Li-Ion Battery Manufacturing Capacity

The company will soon launch container-sized energy storage solutions with megawatt-hour level capacities for applications in large scale manufacturing units across industries.

March 21, 2024. By Anurima Mondal

RCRS Innovations Ltd., the parent company of lithium-ion battery manufacturer EXEGI, has announced plans to invest INR 50 crore to expand its capacity and introduce new product lines.

Talking about the development, Aayush Goyal, MD & CEO, RCRS Innovations said, “India is still in the early days of a truly transformative revolution in clean energy generation and storage as it accelerates its push for a Net Zero economy over the next decade. We believe we are uniquely placed to take full advantage of this massive opportunity and are preparing to invest in building up scale and introducing new products in the coming years.”

RCRS Innovations manufactures Li-Ion battery packs and solar panels in two separate plants in Delhi/NCR with primary applications in clean (renewable) energy storage and solar lighting.

The company will soon launch container-sized energy storage solutions with megawatt-hour level capacities for applications in large scale manufacturing units across industries.

“We will also add a new range of solar panels with cutting-edge technologies in the next two years. Our recent launch of solar panels and energy storage solutions with up to 200 kilo-watt hour capacity has contributed significantly to our growth in the previous fiscal. We have also invested in state-of-the-art battery testing equipment, as a result of which our batteries and energy storage products have the industry’s highest levels of performance and durability,” he added.

India has seen a significant regulatory shift toward carbon neutrality and clean energy that includes new net-zero targets and guidelines. As per Union Ministry of New and Renewable Energy (MNRE) data, a total of 9.4 lakh solar streetlights and 17.23 lakh solar home lighting systems had been installed across India by the end of 2022 under the Off-grid Solar PV Programme. Meanwhile, over one crore households have registered for the union government’s solar rooftop subsidy scheme.

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