Indian Oil Corp set to foray into energy storage business

Indian Oil Corp set to foray into energy storage business

Indian Oil Corporation (IOC), the nation’s largest fuel retailer, is planning to foray into energy storage business. The firm is weighing the option of launch of an improved version of lead-acid battery for low cost mobility and industrial applications.

The idea of developing a next-generation energy storage product is also being contemplated by the oil marketer as told by IOC’s Director-Research & Development (R&D)- Dr.S.S.V.Ramakumar to ETEnergyWorld.

“We are strategizing to enter into the battery vertical with our improved lead-acid battery. We are also working on lithium-ion battery chemistry for improved performance. Besides these, we have been exploring on creating batteries which are not lithium or lead-based. Read More…

 

 

 

Credit By: The Economic Times

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