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02 Mar 2024, Edition - 3154, Saturday

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Coimbatore

Cellex launches new storage solutions

Covai Post Network

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Coimbatore based Startup CELLEX BATTERY SYSTEMS PVT LTD has announced plans to launch its advanced energy storage solution in the next 6 months.

As part of phase 1, Cellex plans to set up State-of-the-art energy storage solutions manufacturing facility in Coimbatore together with development of an advanced battery management solution (BMS)

The company would provide cutting edge energy storage solutions to various sectors covering Renewable energy storage, Commercial & residential backup, Defence, Electric Vehicles, telecom, mining, aerospace and other infrastructure projects.

“We estimate the energy storage solutions market to be USD 1 Trillion by 2030. Cellex’ batteries will be based on next generation technologies offering up to 10 years performance warranty and expected life of 15 years. With its superior life, performance and competitive pricing Cellex is targeting to be a leading energy storage solutions provider in the country by 2030 and thereby becoming a Unicorn” says the CEO & Co founder Mr Pramoth Madhavan.

Cellex plans to raise investments to the tune of US$ 10 Million as part of its phase 1 and
US$ 25 Million for Phase 2 expansion.
Cellex would enter into cell manufacturing in India under Transfer of technology (TOT) in the 3rd Phase within the next 3 to 5 years and create over 1000 direct and indirect employment opportunities according to its Co-founder Mr Jose K Joseph

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