VFlowTech Secures $20.5M to Energize India's Renewable Future

Energy storage firm VFlowTech raised $20.5 million to expand operations in India, aiming to upgrade a 100 MWh plant into a Gigafactory. This funding round, led by Granite Asia, highlights investor confidence in Vanadium Redox Flow Batteries, crucial to India’s renewable energy growth and grid stability.

Energy storage solutions provider VFlowTech has secured $20.5 million in funding to expand its operations in India, the company announced on Wednesday.

The new investment will facilitate scaling up its current 100 MWh manufacturing facility into a Gigafactory and boost deployment of its Vanadium Redox Flow Batteries (VRFB) in India's burgeoning renewable energy sector.

Led by Granite Asia, the funding round demonstrates growing investor confidence in VRFB technology as pivotal for stabilizing renewable-heavy grids and accelerating India's decarbonization efforts.

(With inputs from agencies.)