Allox, State govt sign MoU on setting up production unit

Hyderabad: Allox Advance Materials Pvt Ltd signed an MoU with the State government for setting up of a C- LFP (Lithium Iron Phosphate) active battery material production unit in Telangana, on the side lines of World Economic Forum-2023 in Davos.

The State-of-the-art facility for manufacturing lithium iron phosphate involves an investment of Rs 210 crore with an initial capacity of 3GWH/PA to be expanded to 10GWH with a total investment outlay of Rs 750 crore by 2030. The proposed facility would create employment for 600 highly skilled and semi-skilled professionals.

Minister KTR welcomed Allox and stated that the State government was actively working on promoting adoption of EVs and towards developing a comprehensive manufacturing ecosystem. The State is emerging as the most preferred destination for EV and advanced chemistry cell manufacturing. The proposed facility by Allox is expected to contribute to the State's goal of promoting the adoption of electric vehicles.

Allox Co founder Mourya Sunkavalli and COO Kiriti Varma thanked the government for their support in making this project a reality. He said Allox would play an important role in the EV and emerging energy storage systems landscape of the country, while supplying active cathode materials to the cell manufacturing companies in India, thus enabling and creating an ecosystem of ACC companies around Telangana.

Allox's technology to produce carbon-coated LFP is a solid-state process, economical to scale up, zero affluent discharge, eco-friendly and indigenously developed by ARCI, Government of India and upscaled by Allox in Hyderabad. Allox has been showcased by Government of India at the Indian Sustainability Pavilion at World Economic Forum- 2023 in Davos.