Greenfuel: Energy Storage Pioneers Driving Our Future

Akshay Kashyap,Managing Director

Akshay Kashyap

Managing Director

Energy storage is gaining momentum in both renewable and conventional sectors in India. Due to various applications and benefits, energy storage systems show immense potential in the Indian renewable energy sector. According to research, the battery energy storage systems industry is expected to grow at a CAGR of nearly 10 percent during the forecast period of 2020-25.

Also, India is aiming to install 450 GW of renewable energy by 2030, creating ample opportunities for the market in the coming years. Amongst the few mind-boggling numbers of energy solution providers who added success stories to their name, Greenfuel­ a product technology-based company ­ is a name worth mentioning.

Founded in 2006 with a vision to set a global benchmark in energy storage solutions, the company has developed a Li-ion battery pack using its technical know-how and became the only company to have applied for four patents on the same. Greenfuel's forte lies in offering Modular Lithium battery packs of 2Kwh each where up to 8 batteries are paralleled together to give 16Kwh of energy. It is a completely swappable solution with a unique auto-ID generation feature of the BMS. This coupled with the patented thermal solution is a unique offering in the Indian market.
Keeping with its DNA of innovation, in alternate fuels, Greenfuel has developed a first-of-its-kind modular filling system for CNG vehicles where the team can reduce cost, assembly time, and several components giving its customers a competitive edge in the market. With a long history of providing excellent results for its esteemed clientele, Greenfuel has been honored with numerous awards such as `Technology Front Runner' in EV at ASSOCHAM Auto Forum Awards 2019, Supplier of the Year in 2018-19 for Spare Parts from Tata Motors, Emerging Entrepreneur of the year in 2018 by India Today group and Emerging Company from India Achievers forum.

Akshay Kashyap, the company's Managing Director, says, "We see energy storage in e-Mobility and stationary applications, and we have the requisite technical expertise to offer maximum value to our customers in both segments. We are crystal clear from the beginning that we offer premium services but with the promise of reliability and zero-defect. This helps in enhancing our customer's brand in front of their consumers. This single factor is what segregates us from the crowd."

Greenfuel's forte lies in offering Modular Lithium battery packs of 2Kwh each where up to 8 batteries are paralleled together to give 16Kwh of energy

Converging Technology & Innovation
Technology has changed rapidly, and the coming decade is going to be exciting for energy storage as huge investments are made in battery technology. With innovation embedded in its DNA, the Manesar-headquartered company aims to keep pace with the newer technologies and adds value to its customer's application and addresses a solution to a problem. Greenfuel has leveraged several latest technology trends such as high energy density cells, modularization of alternate fuel product offerings, special thermal materials for battery packs, and more. "One of our core values is `Customer First' therefore; our idea is to be a partner with the customer rather than a supplier.

This way, we are very closely connected and can use our expertise to solve the problem that will keep them ahead. By doing this we are always a preferred partner to our customers," he adds. With a well-knitted team of 150 professionals, Greenfuel has grown profoundly from zero revenue to 85 crores in just 14 years and is aspiring to grow 5X by 2025. The company is also targeting to supply at least one Gwh of energy storage solutions by 2025.