IOC to license its improved lead-acid battery tech

According to a media report, the Indian Oil Corporation (IOC) is in talks with battery makers to license its improved lead-acid battery technology. 

IOC has been researching new energy storage technologies that use a new nano material. It is claimed to increase battery life by 30% and cuts down charging time by 40%. This battery has been tested in 3-wheelers. The company is looking to partner with battery manufacturers to bring this technology into the market. It is also open to setting up its own manufacturing unit. 

According to IOC, lead-acid batteries are more suitable for India than lithium-ion batteries. The raw materials for lead-acid batteries are readily available and recycling is not an issue either. 

IOC is eyeing the energy storage sector as the world shifts from fossil fuel powered vehicles to electric mobility.

Source: Economic Times