In the latest episode of the State of the Economy podcast, Rishi Ranjan Kala is joined by Mourya Sunkavalli, Founder & MD, Altmin, a startup focused on battery materials. Altmin has established the country’s first facility for manufacturing cathode active materials (CAM), a crucial component in lithium-ion batteries. The podcast delves into the significance of CAM in the battery value chain, as well as India’s role in global battery production.
With the drive towards clean energy, battery storage has become pivotal. Altmin has partnered with the International Advanced Research Center for Powdered Metallurgy and New Materials to set up a CAM production facility in Hyderabad. This collaboration, along with international partnerships, underscores the importance of technology in bolstering India’s battery ecosystem.
The CAM licensing rests exclusively with Altmin on an international scale, highlighting the company’s pioneering efforts. Maurya discusses the challenges of sourcing battery materials, notably lithium, which is largely controlled by China due to its control over raw materials and processing. Altmin aims to address this dependency by establishing refining units in mineral-rich countries, a move that would enhance India’s lithium security and streamline the supply chain.
Amidst these challenges, Altmin’s journey showcases India’s efforts to secure critical battery materials domestically. The company’s focus on cathode materials, particularly LFP (lithium iron phosphate), aligns with the evolving market trends. Tesla’s shift to LFP and the growing awareness of thermal stability benefits have fueled interest in Altmin’s approach.
The podcast conversation also touches upon India’s strides in recycling battery materials, with various companies working to establish recycling plants. Moreover, the government’s support, including initiatives like the advanced cell chemistry PLI, aims to nurture a robust battery ecosystem.
(Host: Rishi Ranjan Kala, Producer: Jayapriyanka J)
About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.