With diversified battery materials offerings and strong credentials, GFCL EV aims to reinforce India’s emergence as a competitive player in the global battery-materials value chain. Grounded in innovation and sustainability, the company will accelerate clean-technology adoption, lower emissions, and support India’s ambition to become a global hub for advanced battery materials.

GFCL EV has fully integrated manufacturing capabilities for battery chemicals with backward integration into key raw materials. Its current product portfolio, catering to both electric vehicle and energy storage sectors, includes:

•          Battery chemicals – electrolyte salt LiPF6, electrolyte formulations, additives for enhanced performance

•          Cathode active materials (LFP)

•          Binders (both PVDF and PTFE)

On this momentous occasion, Mr. Vivek Jain, Chairman, INOXGFL Group, said, “We are delighted to welcome IFC as a partner in GFCL EV. This milestone reinforces our vision for a greener future supported by IFC’s global expertise and commitment to sustainable development, aiding in accelerating India’s energy transition. IFC has a history of investing in sustainable businesses demonstrating long-term value creation. Their investment in GFCL EV is an endorsement of our differentiated model and growth trajectory. This partnership underlines our global leadership in battery materials and shall create long term sustainable value for existing shareholders”

Dr. Bir Kapoor, DMD and CEO, Gujarat Fluorochemicals Ltd., added, “This is IFC’s first investment in a battery materials company in India, marking a major milestone for India’s battery materials ecosystem. This capital raise enables us to scale up our manufacturing capacity for advanced battery materials strengthening India’s position in the global supply chain.  GFCL EV stands among the few large-scale integrated battery materials manufacturers worldwide, with a portfolio that covers more than 50% of the LFP battery cell bill of materials.”

Mr. Imad N Fakhoury, IFC Regional Division Director for South Asia, said, “We are happy to partner with GFCL EV on this milestone initiative to advance value‑added manufacturing in India. As the country scales its electric vehicle and energy‑storage sectors, India has a clear opportunity to strengthen domestic capacity in key battery materials, set new benchmarks for high‑performance supply chains, and secure its place in the global market for advanced energy technologies. This investment forms part of IFC’s programmatic efforts to strengthen India’s e‑mobility value chain, and is enabled by a One WBG approach that builds the market and localizes global value chains, advancing the Make in India initiative. It will enable first‑of‑its‑kind greenfield battery manufacturing and build the capabilities India needs to play a larger role in high‑value components worldwide.”

Mr. Carsten Mueller, IFC Regional Industry Director for Manufacturing, Agribusiness, and Services for Asia, said, “IFC’s partnership with GFCL EV will help build an integrated one-stop platform for battery materials—bringing key stages of the value chain under one roof and support faster localization of India’s battery manufacturing sector. By building new and advanced domestic capacity, we aim to support India’s energy security, boost innovation, mobilize additional private investment, link India more deeply to global growth markets in e-mobility, and create high-skilled jobs.”

Barclays acted as exclusive financial advisor to GFCL EV on this transaction.

The post IFC INVESTS ~US$ 50 MILLION IN GFCL EV FOR INDIA’s FIRST INTEGRATED BATTERY MATERIALS FACILITY  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, January 22, 2025: International Finance Corporation (IFC) has sanctioned a $100 million Sustainability-Linked Loan (SLL) to JK Tyre, a leading Indian tyre manufacturer with a global presence. The funding includes $30 million to JK Tyre & Industries Limited and up to $70 million for Cavendish Industries Limited (CIL), a subsidiary of JK Tyre. JK Tyre is a flagship company of JK Organisation, a global conglomerate.

The post JK Tyre ties up with IFC for India’s First Tyre Industry Sustainability-Linked Loan appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, October 7, 2024: The International Finance Corporation (IFC), a member of the World Bank Group and the largest global development institution, is partnering with Axis Bank, one of the largest private sector banks in India, to provide a $500 million loan to help develop a blue finance market and scale up financing of green projects in India.

This is IFC’s first blue investment in India and the first blue transaction by a financial institution in the country.  Blue loans are financing instruments that raise and earmark funds for investments such as water and wastewater management, reduction of marine plastic pollution, restoration of marine ecosystems, sustainable shipping, eco-friendly tourism, and offshore renewable energy.

This transaction is also the largest green financing by IFC in the country. The funding will enable Axis Bank to expand its climate finance portfolio.

With India’s rapid urbanization and economic growth, there is a substantial opportunity to enhance water and energy efficiency. The water and wastewater treatment market size was estimated at $1.6 billion as of 2022 and is expected to reach $3 billion by 2029. Additionally, the green buildings sector presents an investment opportunity of $1.4 trillion by 2030, driven by a need for sustainable infrastructure. Most of these investments need to come from the private sector to offset limited public funding.

Speaking on the occasion, Amitabh Chaudhry, Managing Director and Chief Executive Officer of Axis Bank said, “With the increasing effects of climate change into the global ecosystem and the growing awareness of environment sustainability, it’s imperative for banks to adopt sustainable lending practices. We are excited to partner with IFC with whom we share a common vision of strengthening standards and lending practices to boost sustainable finance in India. Given Axis Bank’s focus on growing its climate and sustainable finance portfolios, along with its large size, systemic importance, and wide reach, we hope to be a strong and stable partner for IFC in the key focus area of climate finance in India.”

We are thrilled to announce our inaugural blue loan in India, and our largest climate finance initiative in the country to date. India serves as an exceptional testing ground for innovative approaches to climate adaptation. This loan will not only catalyze private sector investment in this emerging asset class but also direct long-term funding toward fostering a sustainable blue economy. Additionally, it aims to enhance financing for climate projects across India, with a strong emphasis on green buildings that will mitigate climate change impacts and generate jobs. Partnering with Axis Bank, a like-minded ally, we are committed to propelling India’s sustainable and inclusive growth forward,” said Makhtar Diop, Managing Director of IFC.

Axis Bank is among the first banks in India to have a board-approved Environmental, Social and Governance (ESG) policy for lending that adheres to IFC Performance Standards. The Bank remains committed to supporting India’s climate agenda with public commitment of incremental financing of Rs 60,000 crores (approximately $7.2 billion) in ESG-aligned sectors by 2030 (from August 2021), of which Rs 30,000 crores (approximately $3.1 billion) of incremental financing was achieved by March 2024.

Axis Bank has been a pioneering issuer of sustainable instruments among Indian financial institutions. Axis issued the first Green USD Bond way back in 2016 and also the first sustainable USD AT1 bond from India in 2021. The bank, with a long-standing history of being a pioneer in sustainable financing, will use IFC’s financing to promote resource-efficient growth and to create jobs, while protecting the critical clean water resources and supporting the nation’s climate goals.

As part of its advisory services, IFC will support Axis Bank in growing its green buildings portfolio, including for affordable housing projects and building capacity for impact reporting. Through this engagement, IFC aims to catalyze the green buildings’ market in India. IFC will also provide a performance-based incentive of up to $2.9 million from the UK-IFC Market Accelerator for Green Construction (MAGC) program aimed at supporting the design and construction of green buildings certified by IFC’s EDGE (Excellence in Design for Greater Efficiencies) green buildings standard.

IFC has built a successful track record in the green finance market and is laying the groundwork for launching and scaling blue finance across the globe. Since 2020, IFC has provided more than $1.9 billion dollars in blue loans and bonds to private institutions around the world.

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Bengaluru, June 25, 2024: Mindspace Business Parks REIT (BSE: 543217 | NSE: MINDSPACE) (‘Mindspace REIT’), owner and developer of quality Grade A office portfolio announces its INR 650 Crore (6.5Bn) Sustainability Linked Bond Issuance that has been placed with International Finance Corporation (IFC), the private sector arm of the World Bank Group. The coupon of the bond is linked to Mindspace’s commitment to achieve certain ESG targets towards building a greener eco-system.

The post Mindspace REIT becomes the First Indian REIT to issue Sustainability Linked Bond, raising INR 650 Crore from International Finance Corporation appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.