IAN Group Invests ₹27.4 Cr in e-TRNL Energy’s Next-Gen Battery Cells
e-TRNL Energy, an innovative cleantech startup, has secured a substantial seed funding of ₹27.4 crores from the IAN Group’s IAN Alpha Fund. This investment highlights the growing confidence in the company’s cutting-edge approach to next-generation battery technology.
Investment in Next-Gen Battery Technology
The funds from IAN Group, along with contributions from Navam Capital and Speciale Invest, are set to accelerate e-TRNL Energy’s mission to transform clean energy storage. Founded in 2021 by Apoorv Shaligram and Dr. Uttam Kumar Sen, e-TRNL is committed to creating innovative battery cell architecture.
Founders’ Expertise
- Apoorv Shaligram: Co-founder and CEO with over a decade of experience in lithium-ion research and electric vehicle (EV) battery design.
- Dr. Uttam Kumar Sen: Co-founder and CTO, holds a PhD in Energy Science & Engineering, and has significant experience in battery development.
Innovative Technology Approach
e-TRNL specifically aims to develop batteries that are safer and more efficient. The firm’s advanced battery design is engineered to generate less heat, offer quicker charging times, and increase energy density. These enhancements are expected to lower manufacturing costs and improve overall economics.
Utilization of Funds
The recently acquired capital will allow e-TRNL Energy to:
- Complete the product development process.
- Validate performance and safety standards.
- Showcase manufacturing capabilities in India.
Facility and Production Plans
e-TRNL Energy currently operates a 20,000 sq. ft. research and development facility in Bengaluru, providing a solid foundation for its future operations. The company plans to establish a pilot manufacturing facility with a capacity of 250 MWh by 2027, with aspirations to scale this to 2 GWh in the long term. The initial product will utilize Lithium Iron Phosphate (LFP) chemistry, with plans to expand into LMFP and Sodium-ion technologies.
Future of India’s Energy Storage
Apoorv Shaligram noted that this funding will facilitate e-TRNL Energy’s journey towards commercialization. It will also enhance India’s role in the global energy storage sector. The Indian battery cell market is projected to reach approximately 400 GWh annually by 2035, presenting significant economic prospects while underscoring the need for domestic manufacturing to address supply chain concerns.
Conclusion
The IAN Alpha Fund, which boasts a capital pool of $100 million, aims to support innovative startups like e-TRNL Energy that tackle crucial challenges within India’s energy sector. Rajnish Kapur, Managing Partner at IAN Alpha Fund, stressed the criticality of developing local battery technologies to decrease import dependencies and ensure a sustainable future for India’s energy landscape.
