November 17, 2021: Ghani Global Holdings Ltd (GGHL) and Kilowatt Labs Technologies Ltd (KLTL), Inc signed a joint venture agreement on Tuesday for manufacturing and sale of super capacitors and provide long-term energy storage solutions in the country with an estimated cost of Rs2.189 billion, a press release issued by the company showed.
KLTL will manufacture Sirius Supercap storage as a cost-efficient and environment-friendly alternative to chemical batteries. The JV will also produce Centauri energy server which is a stand-alone, integrated power electronics hardware-software platform enabling fossil fuel free micro-grids and eliminating the need to configure solutions by deploying dissipate components in cumbersome configurations, as per official release.
The project will be executed through Kilowatt Labs Technologies Limited (KLTL) with manufacturing facilities located in Faisalabad. As per a briefing held in July earlier this year, KLTL has already acquired 10-acre land to build manufacturing facilities in Allama Iqbal Industrial Estate, Faisalabad.
Total expected cost of the project is around Rs2.189bn of which nearly Rs1bn will be through equity whereas the remaining Rs1.189bn will be in the form of bank borrowing.
The JV firms are betting on rising demand for energy storage devices in the country.
Investors forecast JV’s sales to clock in at Rs4.2bn in year one of operations and reach Rs9bn in the fifth year.
