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Maxvolt Energy secures USD 1.5 million from angel investors to boost recycling and manufacturing of Lithium Battery

Maxvolt Energy secures USD 1.5 million from angel investors to boost recycling and manufacturing of Lithium Battery
Maxvolt Energy Industries Pvt. Ltd, a leading manufacturer and supplier of lithium battery packs for electric vehicles, energy storage systems, and medical devices, has successfully raised 1.5 million US Dollarsin funding from multiple angel investors. This significant capital infusion will support Maxvolt Energy’s ambitious plans to advance sustainable energy solutions and strengthen its market position by introducing fast-charging lithium-ion batteries soon.

With its commitment to innovation and quality, Maxvolt aims to develop world-class lithium battery architectures for various sectors, including electric bikes, scooters, and solar energy systems, while adhering to global compliance and technological advancements.

Mr. Satendra Shukla, Chief Business Officer of Maxvolt Energy, shared his plans for the funding round, stating, “This fundraising is a testament to our investors’ confidence in our vision and business model. As a purpose-driven organisation, Maxvolt is dedicated to providing eco-friendly energy solutions through our cutting-edge lithium-based batteries. We are developing a fast-charging solution that will significantly reduce customers’ charging times. In the prototype development phase, the company aims to launch the final product in phases by the end of 2024 after thorough R&D. In the first phase; we will reduce the charging time to 2 hours and 1 hour in the subsequent phase.”

Maxvolt registered revenue of ₹48.60 Crore in the last fiscal year with 100% CAGR. This impressive growth positions Maxvolt Energy for long-term success in the dynamic energy storage market.

The global lithium-based battery industry is projected to reach a total addressable market (TAM) of USD 300 Billion by 2035. Maxvolt is strategically positioned to capitalise on this growing demand for sustainable energy solutions. The recent funding aligns perfectly with their plans, enabling them to accelerate their innovation in lithium battery technology.

“This investment will accelerate our research and development efforts, enhance the production capacity, and expand our market reach, enabling us to significantly impact reducing carbon footprints through sustainable practices and innovative technology,” Mr. Shukla further added.

Maxvolt places a strong emphasis on reusability, striving to extend the lifespan of old batteries through innovative techniques. These methods prepare lithium batteries for a second life, repurposing them for various small rechargeable applications such as solar streetlights, routers, CCTV cameras portable lights & toys. Furthermore, the company is excited to announce its plan to establish cutting-edge recycling plants. From equipping electric vehicles and portable lights to harnessing solar energy and empowering consumer electronics, Maxvolt Energy is reinforcing the modern technological world with dynamic and disruptive solutions.

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