New Delhi [India], September 13 (ANI/BusinessWire India): Luminous Power Technologies, an innovation leader in energy solutions in India, has signed a memorandum of understanding with GP Energy Tech International Pte. Limited ("GP Energy Tech"), a member of Gold Peak Technology Group, one of the world's major suppliers of primary and rechargeable batteries. The partnership is India's first project focused on adopting Nickel Metal Hydride (NiMH) batteries for home inverter and solar applications. The demand and growth for energy storage in the Indian market will drive the need for cost-efficient, safe, and environmentally friendly storage batteries for the years to come.
Under the agreement, Luminous will evaluate the mutually agreed specification prototype relevant for the Indian market in the inverter and solar segment and will be going under evaluation using GP Energy Tech development kits to prepare for future production. By utilizing NiMH batteries, Luminous will deliver maintenance-free, fast charging, safe, compact, and lighter solutions - while leveraging its existing production lines and expertise in solar and home inverter materials.
Commenting on the partnership, Preeti Bajaj, Managing Director, Luminous Power Technologies, said, "At Luminous, our innovation strategy is rooted to invest significantly on R&D for creating advanced energy solutions that are both greener and more efficient. Our partnership with GP Energy Tech demonstrates our commitment to bring better and safer solutions that benefit an array of consumers with unique needs. Alternate chemistry like NiMH batteries for residential use is an exhilarating step-forward; another endeavour to have a sustainable future."
Adding to this, Victor Chong, President, GP Energy Tech, said, "India is an exciting market for us, and we're proud to be partnering with the country's leading battery manufacturer to serve the increasing need for sustainable and reliable energy in homes. This research effort aims to create a solution that India has never seen before. The solution has the potential to be far more environmentally friendly, maintenance-free, and safer than any existing battery technologies in India."
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