MaxVolt Energy Industries is a lithium-ion battery pack manufacturer that has built itself around a single idea - owning the battery’s entire life except the cell itself, so that every pack it sells can eventually be bought back, repurposed and recycled. Founded in 2019 as a private company in Delhi, it listed on the NSE’s SME platform in early 2025 and now operates from a growing manufacturing base in Ghaziabad, Uttar Pradesh. That recurring approach - design it, sell it, take it back, strip it down and recover the materials - is what the company calls a “circular lithium energy platform,” and it shapes everything from product design to customer relationships. # Business segments A single business today - lithium battery pack manufacturing - with a recycling engine under construction that will close the loop on the batteries it already makes. ## 1. Lithium battery packs: the core manufacturing engine **The company assembles lithium-ion battery packs for electric two-wheelers, three-wheelers, energy storage and industrial backup, selling entirely to businesses - OEMs, dealers and distributors - not to end consumers.** - **Pack assembly, not cell making** - MaxVolt buys lithium cells from global suppliers (including a Chinese partner) and builds them into finished battery packs, a strategy it chose because it can switch cell chemistries for different applications without owning a cell factory. - **One product family, many end uses** - the same underlying pack technology is configured for e-scooters and e-bikes (48V to 74V, 1.15 kW to 2.96 kW), e-rickshaws, solar street lights, telecom towers, medical devices, diesel generator backup and data centres, so the company sells into multiple industries from a single manufacturing base. - **B2B-only distribution** - every battery is sold to an OEM (such as an e-scooter maker) or through a network of 875-plus dealers and distributors across 16 states; the company does not sell directly to consumers, which keeps its sales force focused on business accounts. - **Warranty as a selling point** - lithium packs carry a 3-year warranty against the 1-year limited warranty typical of lead-acid batteries, and the company promises a 48-hour replacement turnaround, which matters to fleet buyers who cannot afford vehicle downtime. ## 2. Circular recycling: the loop that closes in-house **Through its subsidiary MaxVolt ReEarth, the company is building a lithium battery recycling plant that will recover black mass and eventually extract nickel, cobalt, manganese and lithium - turning today’s sold batteries into tomorrow’s raw material.** - **A subsidiary purpose-built for the job** - MaxVolt ReEarth was incorporated in January 2026 as a wholly owned subsidiary, with a mandate to recycle lithium-ion, lead-acid and EV batteries and to manufacture recycled materials including black mass and recovered metals. - **Two-phase plant in Aligarh** - land has been allotted by the Uttar Pradesh MSME Department; Phase 1 (crushing and black mass generation) targets 7,800 tonnes per year starting in FY 2026-27, while Phase 2 (metal extraction and refining) is planned by FY 2028-29, with a long-term goal of 25,000 tonnes per year by 2035. - **Proprietary extraction technology** - the subsidiary is developing its own hydrometallurgy process and Direct Lithium Recycling technology, supported by research tie-ups with C-MET Hyderabad, IIT Kanpur, RISE Kolkata and the University of Birmingham’s ReLib division. # Group structure and partners **The listed parent company runs manufacturing and sales; one subsidiary handles recycling; a web of IIT and international research partnerships supplies the technology pipeline.** - MaxVolt Energy Industries Ltd is the listed entity, trading as MAXVOLT on the NSE SME Emerge Platform since February 2025. - MaxVolt ReEarth Private Limited is the wholly owned recycling subsidiary, incorporated in January 2026. - A related party, M/s Volts AMP, belongs to the promoter group. - Research collaborations include IIT Delhi for AI-enabled Battery Management Systems, IIT Roorkee for AI-powered BMS for electric two-wheelers, and BattGenie and Sagar Semiconductors for smart inverter BMS. - Recycling R&D partners include ARCI for an Advanced Lithium Recycling Research Lab, plus C-MET Hyderabad, IIT Kanpur, RISE Kolkata and the University of Birmingham.