Inverter-battery

Technology startup Matter Energy on Friday said it has entered into a strategic partnership with Luminous Power Technologies in the field of home inverters and stationary applications. The partners will work in the areas of low-voltage stationary energy storage solutions and develop a dual-purpose smart home dock inverter with IoT capabilities, Matter Energy said in a statement. The dock can be used for both mobility and domestic energy storage applications. This lithium-ion battery solution is built on the principles of battery swapping technology to power a two-wheeler and home inverter interchangeably, it added. "With Luminous' extensive presence and distribution network not only in India but also in South-East Asia and South Africa, we are optimistic that our collaboration will enable us to provide dependable and eco-friendly solutions to millions of Indian households," Matter Group Founder and CEO Mohal Lalbhai said. Luminous Power Technologies CEO Preeti Bajaj said Matters' .

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Battery maker Exide Industries on Friday reported an over five-fold rise in consolidated net profit after tax to Rs 202.44 crore for the first quarter ended June 30, driven by higher revenue.

Sector expects 10% CAGR as more households get electricity connection