Amaron battery maker to acquire 11.36% stake in Log 9 for USD5 mn

Amara Raja Batteries Limited has agreed to invest about Rs.37 crore and acquire an 11.36 percent stake in Log 9 Materials Scientific Private Limited, a Bengaluru-based battery-tech and deep-tech start-up, as part of its strategic initiatives, the battery maker said in a filing with stock exchanges on Monday.

The funding will help India's budding advanced battery sector develop indigenous technologies for fast-emerging storage and mobility solutions. ARBL is expected to be the primary partner for scaling up the manufacturing operations of Log 9's battery and fuel cell technologies, according to a statement from Log 9. While providing an impetus to Log 9's ongoing research and development work, ARBL is expected to be the primary partner for scaling up the manufacturing operations of Log 9's battery and fuel cell technologies, according to a statement from Log 9.

This will be the first in a succession of exciting new advancements that we intend to implement in the future. Log 9 has made significant progress in creating a number of technologies that we feel will be very successful in emerging mobility applications. I am certain that both organisations will profit from tremendous synergies in the long run.