Hindustan Zinc plans battery manufacturing Agreement with US Firm

Hindustan Zinc is planning to establish a battery production plant in India in collaboration with Aesir Tech, a US battery technology company. The CEO, Arun Misra, mentioned that they will focus on zinc battery solutions for a range of applications.

Misra stated that while the facility could explore other metals, such as zinc, it is mainly focused on zinc. "The partnership is all about bringing that technology to India and helping them set up large battery manufacturing capacity in India and we being the sole supplier of zinc in it," Misra said.

Misra stated that the US-based company's executives are being welcomed in India for discussions with local battery manufacturers. When questioned about possible investments being considered for the facility, he responded. "We have not moved into that direaction as of now, we will survey the Indian markets first."

The deal is happening as India shifts towards renewable energy and reduces its reliance on fossil fuels, with batteries being essential for this transition.

In June, the mining company revealed a memorandum of understanding (MoU) with Aesir Tech, where they agreed to provide Zinc for Zinc-based batteries to Aesir. According to a press release, the decision is in line with Hindustan Zinc's work to investigate new uses for zinc in the shift towards clean energy.