Battery technology startup Offgrid Energy Labs has raised $15 million in a funding round led by Archean Chemical Industries Limited, with participation from existing investor Ankur Capital.
The Noida-based startup plans to use the fresh funding to establish a pilot manufacturing facility in the United Kingdom within the next 12 months, expand its research and development (R&D) capabilities, and commercialise its zincgel batteries, the founders said in an interaction with ET.
"This funding is primarily to set up a demo manufacturing facility for the final product in the UK. As soon as the UK plant is commissioned, we plan to establish a manufacturing facility in India," said Rishi Srivastava, cofounder of the company.
Founded by Tejas Kusurkar, Srivastava, Ankur Agarwal, and Brindan Tulachan in 2018, Offgrid Energy Labs focusses on reducing dependence on lithium-ion storage solutions through zinc-bromine gel batteries for the stationary storage market, which offer a safer and greener alternative. The stationary storage market refers to commercial infrastructure for storing energy in non-mobile systems.
"Zinc gel is optimal for deep discharge, 6-to-12-hour long-duration energy storage. This is where it excels—it's very difficult for lithium to compete in this segment. Similarly, other battery chemistries struggle to survive and meet commercial requirements in this application," said Kusurkar, chief executive officer of Offgrid Energy Labs.
This development comes as the central government has set a target of achieving 500 gigawatts (GW) of renewable energy-based electricity generation by 2030. According to the India Energy Storage Alliance, as of August this year, battery energy storage system capacity of 500 megawatt-hours (MWh) is operational.
The company has raised a total of $12 million in previous funding rounds, according to Tracxn.
Offgrid Energy Labs plans to deploy its technology across three specific domains—industrial net-zero initiatives with battery energy storage, managing power during peak demand periods, and serving off-grid areas such as islands and rural communities.
"Our experience in large-scale chemical manufacturing complements Offgrid’s breakthrough science, making this partnership a strong foundation for giga-factory scale production...Our expertise in chemical manufacturing and global supply chain execution will be critical in taking Offgrid’s zincgel from pilot to giga-factory readiness, ensuring operational excellence as the technology scales,” said Ranjit Pendurthi, promoter and managing director of Archean Chemical Industries.
The company has developed over 25 intellectual property (IP) assets, with its proprietary electrolyte forming the core of its technology. Currently operating in India and Europe, the company plans to expand to more regions in the coming years.
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The Noida-based startup plans to use the fresh funding to establish a pilot manufacturing facility in the United Kingdom within the next 12 months, expand its research and development (R&D) capabilities, and commercialise its zincgel batteries, the founders said in an interaction with ET.
"This funding is primarily to set up a demo manufacturing facility for the final product in the UK. As soon as the UK plant is commissioned, we plan to establish a manufacturing facility in India," said Rishi Srivastava, cofounder of the company.
Founded by Tejas Kusurkar, Srivastava, Ankur Agarwal, and Brindan Tulachan in 2018, Offgrid Energy Labs focusses on reducing dependence on lithium-ion storage solutions through zinc-bromine gel batteries for the stationary storage market, which offer a safer and greener alternative. The stationary storage market refers to commercial infrastructure for storing energy in non-mobile systems.
"Zinc gel is optimal for deep discharge, 6-to-12-hour long-duration energy storage. This is where it excels—it's very difficult for lithium to compete in this segment. Similarly, other battery chemistries struggle to survive and meet commercial requirements in this application," said Kusurkar, chief executive officer of Offgrid Energy Labs.
This development comes as the central government has set a target of achieving 500 gigawatts (GW) of renewable energy-based electricity generation by 2030. According to the India Energy Storage Alliance, as of August this year, battery energy storage system capacity of 500 megawatt-hours (MWh) is operational.
The company has raised a total of $12 million in previous funding rounds, according to Tracxn.
Offgrid Energy Labs plans to deploy its technology across three specific domains—industrial net-zero initiatives with battery energy storage, managing power during peak demand periods, and serving off-grid areas such as islands and rural communities.
"Our experience in large-scale chemical manufacturing complements Offgrid’s breakthrough science, making this partnership a strong foundation for giga-factory scale production...Our expertise in chemical manufacturing and global supply chain execution will be critical in taking Offgrid’s zincgel from pilot to giga-factory readiness, ensuring operational excellence as the technology scales,” said Ranjit Pendurthi, promoter and managing director of Archean Chemical Industries.
The company has developed over 25 intellectual property (IP) assets, with its proprietary electrolyte forming the core of its technology. Currently operating in India and Europe, the company plans to expand to more regions in the coming years.
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