The company also has plans to manufacture Quantum batteries in future. It is also looking to partner with battery suppliers, distributors, electronics OEM and EV manufacturers around the world
Dr Nagendra Nagaraja, Founder, CEO and Chairman of Qpi Technology has announced new subsidiary Qpivolta to manufacture Solid state batteries and in future all important Quantum batteries to power anything from cell phones, EVs, energy utilities and space ships.
“Qpi Technology has an objective and vision to serve humanity with its advanced technologies. Qpivolta will be crown jewel of technology innovation by Qpi Technology. Batteries will play significant role in advancement of humanity. Initial analysis of technology we are using is very encouraging. Starting with solid state batteries based on new material we are working on and all-important Quantum batteries will advance many energy dependent applications. Will make our planet greener and less dependent on fossil fuels,” Noted Nagendra Nagaraja.
He added, “Next two years will be experiments using our Quantum technology at scale, Late in 2022, we may start hunting for location for manufacturing facility for chemical factory driven by Quantum simulation and synthesis. For first Phase of battery giga factory, we have budgeted Rs 1000 crore investment for the manufacturing plant. This will be still initial manufacturing facility that is not production ready. Production is planned between 2025-2026 when one or many of these battery technologies becomes stable that yield cost and performance benefits. From then on we will continuously bring newer battery technologies with high volume and throughput from Manufacturing facility based out of Bangalore.”
Breakthrough in later 2022
The company is expecting a major breakthrough in later 2022 and early 2023. It is also looking to partner with battery suppliers, distributors, electronics OEM and EV manufacturers around the world to ramp up our volumes.
“We do expect 4-5 variants of batteries for different applications. Since our innovation has great cost, performance benefits and possibilities of world’s best energy density, we do expect robust distribution channels, picking up the end products at volume. But bigger problem will be supply chain, we are working hard to figure that out. There are good amount sources of raw materials we require. We would like to create sources both in India and abroad as priority,” informed Nagaraja.
He added, “I understand government is eager to help, we are very thankful for that and expect a lot of help from Indian government and Government of Karnataka here. Apart from technology advancement, it will create large number of jobs in manufacturing facility and high-end research jobs in R&D. Value addition of IPs and know how that will be created on Indian Soil will be unmeasurable.”
The company will also be looking for next level of funding through high quality investors, working capital loans for priority sectors, probably after the breakthrough. Advances from customers and government grants and investments, as per the company, will come via parent company.
