The beta version of Li-ion or lithium batteries from Loom Solar is open to sustainable and environmentally friendly solutions for home lighting systems, inverter-compatible solutions, EVs (electric vehicles), science or home improvement projects and agriculture.
Loom Solar, an emerging SolarTech start-up under the Government of India's Start-Up India initiative and one of the leaders in the monopanel category, continues its agenda of providing innovative and breakthrough products in the renewable energy field, and gave Today its plans to enter the Indian lithium-ion battery market valued at $ 2 billion in calendar year 2022.
In order to set the pace for building this new product line, Loom Solar plans to create a dedicated R&D and manufacturing framework in the initial phase to develop energy efficient and intelligent technology solutions in the field of green energy. The company has also launched its beta phase for Li-ion batteries to collect user input to develop more complete and robust solutions in the battery space. Lithium-ion battery insights can be gathered on Loom Solar's website for inputs such as fast charging, high efficiency, no maintenance, longer life, etc.
On the occasion, Amod Anand, Co-Founder and Director of Loom Solar said, “Product innovation and research are becoming important levers to meet the growing green energy needs. In addition to our solar solutions, we are planning a further series of innovative solutions with lithium-ion batteries (Li-Ion) in 2022. With our focus on sustainable solutions, our research and development team would work very closely with our customers on the necessary product development. "
The beta version of Li-ion or lithium batteries from Loom Solar is open to sustainable and environmentally friendly solutions for home lighting systems, inverter-compatible solutions, EVs (electric vehicles), science or home improvement projects and agriculture. Li-Ion is a use case solution for limited environmental pollution and is characterized by properties such as high power density, long service life, lower self-discharge and low maintenance costs and is therefore the preferred choice for company-owned emergency power solutions and EVs.
Reports from certain research organizations point to significant growth in the Indian Li-ion industry in this decade with over 15 percent CAGR combined over the entire electricity demand in categories such as solar power systems for the home and office, electric vehicles, energy storage systems, inverters and UPS for emergency power supply widespread distribution.
In addition, the company plans to apply for and participate in the production-based incentive scheme issued by the Ministry of Heavy Industry for the National Program for Battery Storage with Advanced Chemical Cells (ACC). The total spending of the program, announced by the center in August 2021, is Rs.18,100 billion over five years.