In a significant step toward accelerating India’s clean energy transition, ChemVolt Global, a next-generation battery and storage technology firm, has raised $20 million in fresh funding while forming a strategic partnership with Europe’s ElevenEs, a pioneer in lithium iron phosphate (LFP) battery cells.
The collaboration aims to enhance energy storage efficiency and reduce renewable integration costs by 30%, directly supporting India’s ambitious net-zero 2070 goals. The partnership will enable ChemVolt to co-develop advanced battery systems optimized for industrial, grid, and electric mobility applications.
Scaling Energy Storage for a Renewable Future
Founded by a team of engineers and sustainability experts in 2018, ChemVolt Global has quickly positioned itself as a key enabler in India’s clean energy ecosystem. The firm currently serves over 200 industrial clients, providing modular battery systems for solar and wind energy storage, as well as smart grid balancing.
The newly secured funds — backed by both Indian and European investors — will be used to expand ChemVolt’s R&D and production capacity, set up a new gigafactory in Gujarat, and integrate AI-driven monitoring for predictive battery management.
“We are focused on enabling renewable adoption at scale by addressing one of the sector’s biggest challenges — affordable, reliable storage,” said Anirudh Sethi, CEO and co-founder of ChemVolt Global. “Our partnership with ElevenEs combines India’s manufacturing strength with European research leadership.”
Bridging India and Europe in Green Innovation
The alliance with ElevenEs, headquartered in Serbia, represents a milestone in Indo-European cooperation in the battery storage and materials innovation sector. ElevenEs, known for developing LFP battery technologies that outperform traditional lithium-ion cells in durability and safety, will provide cell technology, design insights, and testing frameworks.
ChemVolt, in turn, will localize manufacturing and deployment, ensuring that the solutions remain cost-effective and compatible with India’s renewable infrastructure.
The collaboration is also expected to create over 500 green jobs in manufacturing, logistics, and R&D by 2026.
“This partnership demonstrates how global collaboration can accelerate sustainability,” said Milan Petrovic, Chief Technology Officer at ElevenEs. “Together, we can deliver cleaner, safer, and more scalable storage for the world’s fastest-growing renewable energy market.”
Driving India’s Energy Independence
India’s clean energy landscape has seen rapid growth, but energy storage remains a bottleneck for 24×7 renewable reliability. ChemVolt’s hybrid approach — combining battery innovation with analytics and localized production — directly tackles this challenge.
By reducing storage costs and enhancing efficiency, the company has already helped its clients — including several renewable IPPs and manufacturing clusters — cut their overall energy expenditure by nearly 30%.
Industry experts suggest that firms like ChemVolt Global play a critical role in reducing India’s dependence on imported cells and rare materials, aligning with the National Energy Storage Mission and Production Linked Incentive (PLI) schemes.
The Road Ahead
With this funding round and European collaboration, ChemVolt aims to triple its manufacturing output by 2026, while pursuing new markets in Southeast Asia and the Middle East.
Its focus on battery circularity — including recycling and reuse — further underscores its commitment to a sustainable lifecycle approach in clean energy technology.
Success: Strategic Indo-European collaboration enables ChemVolt Global to cut renewable costs and accelerate India’s transition to a net-zero economy.
Last Updated on: Wednesday, October 29, 2025 1:32 pm by Republic Business Team | Published by: Republic Business Team on Wednesday, October 29, 2025 1:32 pm | News Categories: Startup
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