Page 139 - CW E-Magazine (30-1-2024)

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LUBRICANTS & FUELS ADDITIVES
Lubrizol recognised at ‘Rosefi eld Energy Tech Awards’

Lubrizol Additives was recently
presented with two honours at the
‘Rosefi eld Energy Tech Awards’, a
Mumbai-based conference that recog-
nises leadership and innovation in the
lubricants and fuels market.

Lubrizol received the ‘Technology
Advancement Award’ for its develop-
ment and advocacy for the Wire Cor-
rosion Test (WCT), which represents
an advancement in assessing how
well lubricants protect materials from
corrosion in an electric vehicle (EV)
environment.

This is said to be a major improve-
ment over the corrosion strip tests that
have been the industry’s mainstay
for 100 years. Lubrizol also won the being recognised for resilience and especially during the COVID-19
‘Supply Chain Excellence Award’, agility in overcoming challenges, pandemic.

BATTERY MATERIALS
Hyderabad’s Altmin to invest $100-mn over 5 years

in cathode materials manufacturing

Altmin Pvt. Ltd., a Hyderabad- eign wealth funds, strategic MNCs and Altmin has established a sourcing
based company pioneering cathode global funds. partnership with Bolivian state com-
active materials (CAM) manufacturing pany YLB to secure a stable supply of
for lithium-ion batteries in India, said it Altmin is currently a pre-revenue battery-grade lithium carbonate. Addi-
has secured an undisclosed quantum of company, and its investment focus tionally, the company has entered into
growth capital from a prominent Indian includes technology, R&D, upscaling, a collaboration with the Advanced
family offi ce, which is renowned as a land procurement (20 acres of land Research Centre for Powder Metallurgy
leading manufacturer of iron phosphate from the Government of Telangana), and New Materials (ARCI), an autono-
and other precursors in India, for a 22% machinery for the pilot plant, and strategic mous R&D centre under the Department of
stake in the company. partnerships with YLB of Bolivia, and Science and Technology (DST), Govern-
WMG, University of Warwick, UK. ment of India, serving as its technology
The company announced a $100-mn partner. Altmin has set up a pilot plant in
outlay over the next fi ve years with its Altmin aims to initially invest $35- Hyderabad for LFP production.
fi rst 3-GWh plant slated to commence 40-million to establish the 3-GWh
operations by 2025. CAM plant, producing 9,000-tpa of “Altmin aims to establish as a Tier
LFP (lithium iron phosphate), with a 1 supplier to global cell manufacturers,
The company aims to raise more subsequent investment of $60-70-mil- leveraging a low-cost manufacturing
debt/equity from large family offi ces, lion for further expansion to 10-GWh ecosystem in India,” said Mr. Anjani Sri
private equity, venture capital, sover- by 2030. Mourya Sunkavalli, founder, Altmin.

Chemical Weekly January 30, 2024 139

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