Renon was founded by Aditya Vikram and Vineet Mittal in 2019 with the vision to utilise the potential of renewable and sustainable energy to generate power. Renon India is headquartered in Surat, Gujarat, with an R&D office in Bangalore. Aditya presides over the brand as CEO (Chief Executive Officer), and Vineet Mittal is designated as a director. Apart from that, Renon has a core team of dedicated founders comprising Ankit Singhania, Sunay Shah, Aditya Singhania and Saurabh Aggarwal, all serving as diligently as honourable board members. The brand is capacitated with in-house competency in all the major aspects of a vertically integrated battery pack company.
The core team united to form Renon due to our common interest in the field of clean and green energy. “Referring to our previous experiences, I would like to state that all of us possess expertise in the field of renewable energy-centric manufacturing. Our founding team members are associated with Navitas Solar, a reputed solar module manufacturer. That is how with a profound belief in establishing a manufacturing ecosystem where the potential of renewable energy can be utilised, the founding team joined hands and Renon India was founded”, stated Aditya.
Renon India has always believed in renewable energy transition’s wholesome power and goodness. With its niche experience in the fields of solar panel manufacturing and a strong understanding of Lithium-ion based energy storage systems in electrification, the company conceived the idea of manufacturing advanced Lithium-ion batteries and solar packs, which led to the foundation of Renon India in 2019. The cost of Li-ion-based cells drastically decreased to USD 200-250/kWh worldwide in 2019, contributing to the company’s establishment.
India’s drastic electric evolution has always been a point of focus at Renon. The company strongly believes in the potential of clean energy. The Lithium-ion battery industry is still at its growing stage in India, but it possesses remarkable potential as a fossil fuel and existing electrical energy storage alternative. “Our collective goal at Renon is to make our brand a pioneer and trustworthy name in the field of manufacturing and technology for Li-ion batteries for mobility (Automotive – EVS) and stationary applications (ESS, Solar Street Lights, Medical devices, etc.)”, added Aditya.
The landscape of manufacturing firms utilising clean, sustainable, and renewable energy sources is still in its nascent stages. However, constant progress and a steady rise in the clean energy industry are being made. As per recent statistics, the India lithium-ion Battery Market was valued at US$ 1.91 billion in 2021 and is estimated to reach a value of US$ 5.2 billion in 2027. The Global India lithium-ion Battery Market size is estimated to grow at a CAGR of 15.3%, and for EVs, it is estimated to grow at a CAGR of 60% over the stipulated period. Renon India entered the Lithium-ion battery production market in 2019. It certainly was challenging to enter the market then; however, over the years, with its supreme product quality and the longevity of services, Renon has emerged as a trusted and leading Lithium-ion battery manufacturer with a vision to facilitate the finest services and products in the future.