Cellex Battery Systems to launch advanced energy storage solution in June

Cellex Battery Systems Pvt Ltd, a Coimbatore-based startup, is set to launch its advanced energy storage solution that will enter the commercial market in June this year.

As part of Phase-1, Cellex plans to set up state-of-the-art energy storage solutions manufacturing facility in the city together with development of an advanced battery management solution (BMS), company co-founder and CEO Pramoth Madhavan told reporters here on Friday.

The company would provide cutting edge energy storage solutions to various sectors covering renewable energy storage, commercial and residential backup, defence, electric vehicles, telecom, mining, aerospace and other infrastructure projects, he said.

Stating that the energy storage solutions market was estimated to be USD 1 trillion by 2030, Madhavan expressed confidence that the company is expected to capture a market share of 0.1 per cent by then.

Cellex' batteries will be based on next-generation technologies offering up to 10 years performance warranty and expected life of 15 years, he said.

With its superior life, performance and competitive pricing, Cellex is targeting to be a leading energy storage solutions provider in the country by 2030 and thereby becoming a unicorn.

The company plans to raise investments worth USD 10 million as part of its Phase-1 and USD 25 million for Phase-2 expansion, its co-founder Jose K Joseph said.

Cellex would enter into cell manufacturing in India under transfer of technology in Phase-3 within the next three to five years and create over 1,000 direct and indirect employment opportunities, according to Joseph said.