Yuma Energy acquires Grinntech to boost battery solutions
Integrating Grinntech’s expertise in battery technologies, R&D and manufacturing will enable Yuma Energy to build a vertically integrated BaaS ecosystem, Yuma said.
Indian battery-as-a-service (BaaS) firm Yuma Energy has announced the acquisition of Grinntech Motors & Services Pvt. Ltd., a Chennai-based growth-phase start-up specializing in the design and development of innovative, affordable and high-quality energy storage solutions.
The acquisition will boost Yuma Energy’s drive to accelerate the adoption of clean energy solutions by individual users and businesses, the company said.
Integrating Grinntech’s expertise in battery technologies, R&D and manufacturing will enable Yuma Energy to build a vertically integrated BaaS ecosystem that encompasses battery design and production, intelligent charging units, a multi-city swapping network, technology-driven operations, and a seamless customer app, Yuma said in a media release.
“This acquisition is a strategic step towards bolstering our in-house expertise in battery management systems, advanced R&D, and manufacturing,” said Muthu Subramanian, Managing Director & General Manager, Yuma Energy. “By assimilating Grinntech’s technology and manufacturing capability, we will continue to surpass industry and customer service benchmarks in performance, reliability, and safety.”
In January, Yuma Energy unveiled its next-generation battery, developed in collaboration with Grinntech. The acquisition is, thus, a natural progression of the successful partnership between the two companies over the past 18 months, the media release said.
“We are excited to become a part of Yuma Energy’s journey and contribute our expertise to revolutionising battery technology,” said Puneet Jain, Co-founder of Grinntech.
