Maxvolt Energy Secures $1.5M to Revolutionize Lithium Battery Recycling and Manufacturing
Maxvolt Energy Industries Ltd., a leading manufacturer of lithium battery packs, has raised $1.5 million from angel investors. The funds will support the company's mission to develop fast-charging lithium-ion batteries and establish advanced recycling facilities.
Key Developments:
Fast-Charging Lithium Batteries: Maxvolt aims to reduce charging times to 2 hours in the first phase and 1 hour in the subsequent phase, with product rollouts planned by the end of 2024.- Recycling Innovations: The company is repurposing old batteries for applications like solar streetlights, routers, and portable electronics, and plans to set up state-of-the-art recycling plants.
Strategic Vision
Chief Business Officer Satendra Shukla emphasized the company's dedication to eco-friendly solutions, stating, "This funding reflects our investors' trust in Maxvolt's vision. We’re committed to reducing carbon footprints with cutting-edge lithium battery technologies."
Impressive Growth
Maxvolt reported a ₹48.60 crore revenue in the last fiscal year, with a 100% CAGR. With the global lithium battery market projected to hit $300 billion by 2035, Maxvolt is strategically positioned to capture significant market share.
Founded in 2019, Maxvolt continues to deliver innovative energy solutions across sectors such as electric vehicles, energy storage, and medical devices, driving sustainability one lithium battery pack at a time.
