India’s Energy Storage Market Set To Grow At 11.41% CAGR: Nordische Energy Systems

Bangalore-based Nordische Energy Systems Pvt Ltd is a new age innovative startup in energy storage technology that was founded in 2022. A core group of scientists equipped with advanced PhD degrees are at the forefront of R&D activities of the company. Nordische has collaborated with Government of India institutes like CIPET Bangalore and CSIR-AMPRI Bhopal to carry out extensive research and testing. It has also developed a network of international affiliates in Germany, Spain and the US to promote the technology. One of its key affiliates Albufera Energy Storage SI of Spain has already used Nordische’s technology to produce the world’s first commercial grade aluminiumgraphene pouch cell.

Speaking to Bizz Buzz, Sabyasachi Das, Founder and CEO of Nordische Energy Systems Pvt Ltd, a leading innovator in advanced energy storage solutions, explains how this ground-breaking technology is tailored to transform several sectors including three key sectors: EV, consumer portable electronics, grid-scale energy storage, and also delves at length about the energy storage solutions market.

You have recently rolled out your commercial grade pouch cells using your path-breaking aluminium-ion graphene battery technology. Please tell us about this...

This revolutionary innovation is designed to support society’s transition to sustainable energy solutions, providing a high-performance and eco-friendly alternative to lithium-ion batteries.

Nordische Energy’s aluminium-ion graphene battery offers unparalleled features that make it a game-changer in energy storage:

• High energy density: Delivers 220 Wh/kg, enabling powerful and compact energy storage solutions.

• Ultra-fast charging: Achieves an impressive 10C charging rate, dramatically reducing downtime for users.

• Extended lifespan: Provides over 3,000 charge-discharge cycles, exceeding the durability of lithium-ion counterparts.

• Sustainability: Utilizes aluminium, an abundant, cost-effective, and recyclable material, reducing reliance on scarce and hazardous resources like lithium and cobalt.

• Completely non-flammable with no thermal runway.

Our aluminium-ion graphene battery is a testament to Nordische Energy Systems’ mission to drive society’s shift towards sustainable energy. We are proud to deliver technology that supports a more sustainable and inclusive energy ecosystem. This new battery chemistry is based on aluminium metal and engineered graphene material, which is unique in the world and brings innovation to the energy storage market.

How large is the energy storage solutions market in India and at what rate is it growing?

The energy storage solutions market in India is valued at around $4 billion. It is expected to grow at a CAGR of 11.41 per cent between 2024 and 2032.

What is the global scenario with regard to energy storage solutions?

The global energy storage solutions market is estimated to be $266.82 billion in 2024 and is expected to reach $ 535.53 billion by 2033 at a CAGR of 8.05 per cent. The key drivers of this growth will be rapidly increasing electrical vehicles adoption, increasing renewable energy integration and significant government incentives.

You do not make batteries yourself and you only provide the technology to the battery makers. Right?

Yes, Nordische Energy System only provides energy storage technology to battery manufacturers along with some key active materials.

What are the advantages? How does one stand to gain by use of aluminium-ion solutions developed by you?

Aluminium-ion energy storage solutions offer several advantages over traditional lithium-ion batteries:

Fast charging up to 50 times faster than the existing lithium-ion batteries, non-flammable with no thermal runway and greatly reduced risk of fire and explosion, abundantly available raw materials, high recyclable rate, high energy density, non-toxic, and reduced weight.

Potential gains from using aluminium-ion solution: Reduced charging time, enhanced safety, lower environmental impact, lower cost potential and positive geopolitical implications.

It is ideal for critical systems like medical devices, aerospace, and consumer electronics.

Aluminium-ion batteries offer over 3,000 charge/discharge cycles. They significantly outlast lithium-ion batteries (500–1,500 cycles). They reduce replacement costs and environmental impact.

Is it an indigenously developed technology? Is it a patented technology?

Aluminium-ion energy storage solution is not exclusively an indigenous development. It has been researched and developed globally by various academic institutions, research laboratories, and companies.

NES has, however, developed a unique process and technology to harness the maximum performance ever achieved globally using the aluminium graphene technology. Thus, making this technology extremely suitable for EV and other consumer as well as industrial applications.

Yes, there are numerous patents related to aluminium-ion battery technology. These patents cover various aspects of the technology, including: electrode materials, electrolytes, cell design and manufacturing processes.Nordische Energy System Company is in the process of filing the patent on one of the key active materials which enhances the performance of aluminium- ion batteries.

Are you looking at the Indian market or overseas markets, or both?

Both India and the overseas markets.

Would the market for your solution be primarily driven by the growth of EV segment in India or by something else?

Yes, primarily driven by the EV segment but the technology can also be effectively used for consumer electronics batteries as well as grid storage solutions.I would say that target industries for aluminium-ion batteries are:

1. Renewable energy storage (e.g., solar and wind systems)

2. Consumer electronics (e.g., smartphones, wearables)

3. Electric vehicles (e.g., urban e-scooters, delivery vehicles)

4. Medical devices (e.g., portable monitors, backup power)

5. Industrial applications (e.g., power tools, robotics)

6. Defense and aerospace (e.g., drones, satellites)

How do you see India's renewable energy sector growing? Is India on the right track to reach its net zero target?

India's renewable energy sector is experiencing rapid growth, substantial increase in renewable energy capacity, particularly in solar and wind power, and government initiatives.

India has committed to achieving net-zero emissions by 2070. While significant progress has been made in the renewable energy sector, achieving this ambitious goal will require continued efforts and overcoming several challenges like grid integration, energy storage, technological innovation, and policy support.