THIS is A battery everyone wishes for and a potential game-changer. Made from domestically available materials, the battery is cleaner, affordable, and charges fast. Mumbai-based Gegadyne Energy has developed a technology, which allows a non-lithium based battery to charge from 0 to 100% in just 15 minutes. Founded in 2015 by Jubin Varghese and Ameya Gadiwan, Gigadyne is confident that it can mass-produce the commercial version of its prototype battery by 2024.
“We knew that the future is shared and electric. And we understood that there is a need for different battery chemistry because China has supremacy in lithium-ion batteries. We use derivatives of carbon as our active material thereby significantly reducing the overall cost of the batteries, which today constitutes 40% of the cost of the electric vehicles (EV) itself. Our technology enables us to leapfrog battery technologies to the next stage and change the unit dynamics of everything else associated with it,” says Jubin Varghese, CEO and co-founder, Gegadyne Energy.
Raw materials used by the deep-tech company can be sourced locally giving it an edge over technologies that depend on cobalt and other metals. The proprietary technology has an energy density similar to that of lithium-ion batteries with longer life, while adhering to the highest safety standard. “All the variables that matter in a EV, like range, acceleration and charging time are ultimately defined by the battery itself and in the end, one with the best chemistry of battery technology will ultimate be able to produce the best EV,” he says. “While the EVs excite us, there is a larger scope for battery chemistry in sectors like storage. From the perspective of a customer, we have created a battery that is not based on lead-acid or lithium and can be easily changed just like filling your petrol tank,” he said.
Gegadyne recently received Series A funding of Rs 33.4 crore from consumer electrical and electronics company V-Guard Industries. It had previously raised two rounds from Mumbai Angels Network. “A major chunk of the fund will be to expand operations and set up a world-class battery research lab in India, which would be a one of its kind in the country,” Varghese said. It also plans to build a pilot plant to services its contract with selected OEMs. “We only work with precursors that that are globally available in massive quantities and our scientists and engineers use only manufacturing techniques which can be scaled. Few companies manufacture amazing batteries today. So we have an incredible opportunity to have our materials and composites be used as drop in replacement and just make those factories more valuable,” he added.