Himadri Speciality Chemical (Himadri), a global speciality chemical conglomerate has acquired 40 percent stake in Invati Creations (Invati) for a consideration of Rs 45.16 crore.
Invati is founded by alumni from IIM Kolkata and IIT Kharagpur, has a strong focus on engineering lithium-ion electrode materials for efficient energy storage with higher energy density and longer battery life and using nanotechnology biosciences to provide real-world solutions.
It also engages in R&D of various molecules and nanotech solutions, addressing challenges in life-science verticals, designing technology for diverse industries such as agrochemical, animal health and energy storage.
As a part of the deal, Himadri will partly acquire Invati’s stake by infusing Rs 19.99 crore of cash as growth capital in Invati and the balance consideration of Rs 25.17 crore through a share swap by way of issuance of 7,96,446 equity shares of the company of face value Rs 1 each, on preferential basis to the promoters of Invati.
Himadri will have two nominee directors on the Board of Invati , giving the company a significant influence and enabling close collaboration and synergy.
Invati holds multiple patented and patentable technologies for novel molecule inventions spanning various applications, including the pioneering development of the first-ever broad-spectrum antiviral drug molecule.
The investment decision aligns with Himadri’s vision of producing high-quality lithium-ion (Li-ion) battery materials and reinforces its commitment in exploring innovative technologies in the battery material segment.
Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical said, “We are excited about the potential of this collaboration in shaping a sustainable future. Our partnership with Invati emphasises the vision to positively impact the storage efficiency, charging speed, and battery lifespan of lithium-ion batteries. Their technology complements our portfolio in the battery material segment and we foresee an elevation in the performance, safety, and recyclability of batteries, with a focus on contributing to clean energy technologies and addressing a substantial portion of the global demand.”
Mukeshh Agarwal, Director, Invati Creations said, “Having a leading global specialty chemical company join us as a strategic investor is a big step forward in our journey of innovation and invention. Our research team is focusing on making lithium-iron-phosphate (LFP) batteries last longer and safer. We’re also testing new cathode materials for faster charging and have developed a unique cathode that maintains its integrity over many charging cycles. We’re exploring synthesis and application of novel materials for the anode, including graphene and nano-porous graphite, which will add to the comprehensive approach towards battery technology.
