Page 153 - CW E-Magazine (12-11-2024)

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several investors, including family toward cleaner energy solutions,” the sales by Q4 FY25,” said Mr. Bir Kapoor,
offices of major Indian business conglo- company said in a statement. Deputy Managing Director and CEO,
merates. GFL.
“We are very excited about the
The fresh capital will be used to opportunities in the battery materials GFCL EV has fully integrated manu-
fund the company’s expansion plans space and its role as a catalyst driving facturing capabilities with backward
and capitalise on the growing global the EV/ESS growth story. GFCL EV integration into anhydrous hydrogen
demand for electric vehicles (EVs) is on the path to deliver exponential fluoride (AHF), lithium fluoride (LiF)
and energy storage systems (ESSs). growth as it scales up and becomes and captive fluorspar. Its current pro-
GFCL EV aims to become a key the preferred supplier to some of the duct portfolio, catering to both EV &
player in the global battery materials largest global original equipment ESS (Energy Storage Systems) eco-
industry, offering a comprehensive manufacturers (OEMs) in the auto system, includes battery chemicals,
range of products, including battery industry,” said Mr. Devansh Jain, Exe- cathode active materials (LFP) and
chemicals, cathode active materials, cutive Director of INOXGFL Group. binders (both PVDF and PTFE).
and binders.
“This is a multi-decadal opportu- GFCL EV, with its diversified bat-
“With its manufacturing capabili- nity, and being early movers in this tery materials offerings and strong
ties and diversified product portfolio, space, having built capabilities over credentials, aims to capitalise on the
GFCL EV is positioned to benefit the last few years, we are confident opportunities arising on the back of
from the increasing adoption of EVs of a massive growth journey ahead. the Inflation Reduction Act (IRA) in
and ESSs worldwide. The company’s GFCL EV has already started the the US and the strategic diversifica-
strategic focus on sustainability and sampling and validation process and tion globally of supply chains away
reliability aligns with the global trend expects to commence commercial from a single origin country.

CLEAN ENERGY
L&T and Clean Core Thorium Energy in strategic

partnership

Larsen & Toubro (L&T), India’s in Pressurised Heavy Water Reactors electricity for their growth. “In view
leading technology-powered conglo- (PHWR), Canada Deuterium Uranium of increasing demand for nuclear
merate offering solutions in sectors of (CANDU) Reactors and Advanced energy across the globe, we are in the
national importance, and Clean Core Nuclear Reactors. Proliferation-resis- process of identifying new opportuni-
Thorium Energy (CCTE), a US-based tant, it is expected to significantly re- ties to offer ‘One Stop Solutions’ to
advanced nuclear fuel company, have duce life-cycle operating costs and the our customers.
announced the signing of a Memoran- waste produced (by over 85% while
dum of Understanding (MoU) to colla- improving safety due to its accident- Establishing a world-class supply
borate on providing efficient solu- tolerant fuel characteristics). It will chain for ANEEL fuel, by leveraging
tions globally in clean energy through also offer added advantage of energy L&T’s manufacturing prowess, is a
the CCTE’s patented ANEEL fuel security by large scale deployment of step in that direction. L&T will sup-
(Advanced Nuclear Energy for thorium and reduce uranium consump- port CCTE within the purview of the
Enriched Life). tion. Indian legal framework,” said Mr. Anil
Parab, Whole-time Director & Sr. Exe-
The fuel will promote clean energy, At a signing ceremony held in cutive Vice President, Heavy Engi-
non-proliferation, enhanced safety, Mumbai recently, L&T and CCTE neering and L&T Valves.
decarbonisation of hard-to-abate jointly stated that the mission of this
industries and circular economy. partnership is to accelerate nuclear “This partnership will activate
power deployment globally, parti- Indo-US civil nuclear co-operation
ANEEL is made of thorium and cularly in developing countries which signed back in 2008,” noted Mr. Mehul
enriched uranium developed for use require large amount of carbon-free Shah, Founder & CEO, CCTE.

Chemical Weekly November 5, 2024 153

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