Bangalore (Karnataka) [India], May 1 (ANI/BusinessWire India): Dr Nagendra Nagaraja, Founder, CEO and Chairman of Qpi Technology announces new subsidiary Qpivolta to manufacture Solid state batteries and in future all important Quantum batteries to power anything from cell phones, EVs, energy utilities and space ships.
"Qpi Technology has an objective and vision to serve humanity with its advanced technologies. Qpivolta will be crown jewel of technology innovation by Qpi Technology. Batteries will play significant role in advancement of humanity. Initial analysis of technology we are using is very encouraging. Starting with solid state batteries based on new material we are working on and all-important Quantum batteries will advance many energy dependent applications. Will make our planet greener and less dependent on fossil fuels," said Dr Nagendra Nagaraja.
"Next two years will be experiments using our Quantum technology at scale, Late in 2022, we may start hunting for location for manufacturing facility for chemical factory driven by Quantum simulation and synthesis. For first Phase of battery giga factory, we have budgeted Rs 1000 crore investment for the manufacturing plant. This will be still initial manufacturing facility that is not production ready. Production is planned between 2025-2026 when one or many of these battery technologies becomes stable that yield cost and performance benefits. From then on we will continuously bring newer battery technologies with high volume and throughput from Manufacturing facility based out of Bangalore," Dr Nagendra Nagaraja further said.
Further government aid in enabling these kind manufacturing capabilities out of India will be of great help. Dr Nagendra Nagaraja suggested "I understand government is eager to help, we are very thankful for that and expect a lot of help from Indian government and Government of Karnataka here. Apart from technology advancement, it will create large number of jobs in manufacturing facility and high-end research jobs in R&D. Value addition of IPs and know how that will be created on Indian Soil will be unmeasurable."
"Qpivolta, along with Qpicloud (built on data centres based on QpiAI Quantum compute and special hybrid processors) will be two big opex and capex heavy subsidiaries of Qpi Technology. I am aware of kind of operations leadership required in these two companies and we will be nurturing current leadership talent in the Qpi Technology companies and also looking to bring new talents to handle these technology innovations at massive scale," added Dr Nagendra Nagaraja.
"We are expecting major technical breakthrough in later 2022 and early 2023, We would definitely like to partner with major battery suppliers, distributors, electronics OEM and EV manufacturers around the world to ramp up our volumes. We do expect 4-5 variants of batteries for different applications. Since our innovation has great cost, performance benefits and possibilities of world's best energy density, we do expect robust distribution channels, picking up the end products at volume. But bigger problem will be supply chain, we are working hard to figure that out. There are good amount sources of raw materials we require. We would like to create sources both in India and abroad as priority," said Dr Nagendra Nagaraja, on partnership, customers and supply chain.
"We will easily have parent company Qpi Technology commit full funding required for this project once we have pro-type proven in late next year. We would also look for next level of funding through high quality investors, working capital loans for priority sectors, Advances from customers and government grants. Investments will come via parent company," suggested Dr Nagendra Nagaraja, on funding the project.
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