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Remedium Lifecare Ltd., formerly known as Roxy Exports Limited, has made significant strides in expanding its technological and supply capabilities. The company recently entered into a strategic agreement with Angel Partners, Ltd., UK, and signed a supply agreement with Alfa Chemicals and Solvents Ltd., Turkey. These partnerships aim to enhance the manufacturing and supply of technical-grade lithium carbonate, a crucial component for lithium-ion batteries used in electric vehicles and portable electronics.
Effective July 29, 2024, Remedium Lifecare Ltd. has secured a strategic agreement with Angel Partners, Ltd. This collaboration will facilitate the acquisition of advanced technology for manufacturing lithium carbonate in India. By leveraging this technology, Remedium aims to position itself as a key player in the lithium-ion battery market, catering to the growing demand for electric vehicles and portable electronics.
On the same date, Remedium Lifecare Ltd. also signed an annual supply agreement with Alfa Chemicals and Solvents Ltd., Turkey. This agreement ensures a steady supply of technical-grade lithium carbonate, set to commence in the January-March 2025 quarter. The supplies for the calendar year 2025 are valued between USD 20-25 million, reflecting the substantial scale of this partnership.
To optimize the production of technical-grade lithium carbonate, Remedium has partnered with various contract manufacturers. These partnerships will utilize the technology acquired from Angel Partners, Ltd., ensuring high-quality output and efficiency in the manufacturing process. This strategic move is expected to significantly boost Remedium’s production capabilities and meet the increasing market demand.
The agreement with Alfa Chemicals and Solvents Ltd. outlines a supply value of Rs 167-210 crore for the year 2025. This substantial investment underscores the importance of lithium carbonate in the evolving battery technology market. By securing these agreements, Remedium Lifecare Ltd. not only strengthens its market position but also contributes to the broader adoption of electric vehicles and sustainable energy solutions.
Remedium Lifecare Ltd.’s recent strategic agreements mark a pivotal step in its growth trajectory. The collaboration with Angel Partners, Ltd. for advanced manufacturing technology and the supply agreement with Alfa Chemicals and Solvents Ltd. are set to enhance the company’s production and supply chain capabilities. As the demand for lithium-ion batteries continues to rise, Remedium is well-positioned to capitalize on this trend, driving innovation and sustainability in the industry.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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