V-Guard increases stake in battery startup Gegadyne Energy Labs with INR 25 crore investment

Post acquisition, V-Guard’s shareholding in Gegadyne Energy Labs increases to 30.35% (on fully diluted basis) from the current 24.32%. Gegadyne Energy Labs is developing non-lithium battery technology for energy storage, with advantages including lower total cost of ownership (TCO), longer operational life, faster recharge capability, better safety and lower maintenance requirements compared to conventional solutions. With the investment, V-Guard aims to “participate, nurture and have access to Gegadyne Energy Labs’ alternate battery technology with the potential to leverage the technology for various primary applications like distributed uninterruptible power supply (DUPS) systems and energy storage solutions and ‘secondary applications’ in other products of V-Guard’s existing portfolio.”