“With reference to the above-stated subject, please find enclosed herewith the Press Release dated October 9, 2024, issued by Rain Carbon Inc. (a Wholly Owned Subsidiary of the Company) stating that Rain Carbon Inc and Northern Graphite have entered in to an Agreement to Jointly Develop Natural Graphite Battery Anode Material,” said the filing to the exchanges.
Both companies will jointly develop and commercialize advanced natural graphite-based battery anode material with reduced electrode swelling, an extended cycle life and an improved charging speed of lithium-ion battery cells.
The new products will improve the performance of natural versus synthetic graphite-based battery anode materials.
The partnership between will enable Rain Industries to to further expand and fine-tune its portfolio of LIONCOAT battery-grade carbon precursor materials and coating technologies.
Also read: Ratan Tata years: Profit zoomed 51 times, market capitalization 33 times under his leadership“We are delighted to partner with Northern in this development collaboration, which will allow us to expand and tailor our existing portfolio of LIONCOAT® battery-grade carbon precursors, while also advancing new, efficient and sustainable coating technologies through our Innovation Center in Hamilton, Canada. This partnership enables us to combine our strengths in raw material integration and processing to produce high-performance battery anode materials, accelerating the development of innovative solutions for the rapidly growing lithium-ion battery market,” said Gerard Sweeney, President of Rain Carbon.The shares of Rain Industries have increased by 6.8% in the last one year and by 14.6% in the current calendar year so far. The same was trading 6.7% higher at Rs 176.75 on BSE around 1:20 pm on Thursday.
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