Battery makers Barrel Energy and India-based Roshan Energy Technologies have signed a memorandum of understanding (MoU) to develop and produce lithium-ion batteries in India and North America.
US firm Barrel aims to expand into the Indian and international markets after becoming a majority stakeholder in Hyderabad-headquartered Roshan.
Under the plans, the firms will build a lithium-ion battery plant in India before establishing a US-based manufacturing unit and a joint R&D division in conjunction with Barrels’ Nevada tech center.
Ashok Shukla, a professor emeritus with 40 years research experience of specialised batteries and more than 350 published technical papers, is leading the Nevada team to design solutions for battery development, improvement, and recycling.
The Nevada research and technology centre was opened on 8 February, to increase Barrel’s efforts into lithium-ion battery metal recycling and potential battery development and direct metal ion extraction.
In the same week as the MoU, Barrel announced the appointment of Stuart Philip Hensman to the company’s board of directors.