ST Energy Announces Series B and Manufacturing Expansion

ST Energy has successfully closed its Series B funding round, raising capital to triple manufacturing capacity and expand its presence across key growth markets in South and Southeast Asia. The round was led by leading climate-focused investors who share our vision of making reliable, affordable energy storage accessible to every community.

Scaling manufacturing to meet demand

The primary allocation of Series B capital will fund the expansion of our Pune manufacturing facility. The new production lines will increase annual module assembly capacity from 500 MWh to 1.5 GWh, with commissioning targeted for Q2 2025. This expansion incorporates fully automated cell-to-pack assembly, inline quality inspection using machine vision, and end-of-line testing at cell, module, and system levels.

The expanded facility will also house a new battery recycling demonstration line, establishing a closed-loop material recovery process for end-of-life LFP cells. This investment reflects our commitment to circular economy principles and positions ST Energy among the first Indian BESS manufacturers to integrate recycling into core operations.

“This funding validates the market's confidence in our technology platform and team. We are not just building batteries. We are building the infrastructure that will power India's clean energy transition for decades to come.”

CEO, ST Energy

R&D and product roadmap

A significant portion of the round is earmarked for expanding our research and development team. We plan to grow the R&D division from 45 to over 80 engineers and scientists, with new hires focused on next-generation cell chemistries, advanced battery management algorithms, and grid-forming inverter integration. Our product roadmap includes a new containerised utility-scale system designed for rapid deployment in markets with limited installation infrastructure.

We are also investing in our software platform, enhancing the cloud-based fleet management system that monitors and optimises every deployed ST Energy system. New capabilities will include predictive maintenance alerts, automated warranty tracking, and real-time revenue optimisation for systems participating in ancillary service markets.

Strategic milestones ahead

With this funding, ST Energy is positioned to become the leading vertically integrated energy storage company in the region. We are grateful for the trust our investors and customers have placed in us, and we remain focused on delivering reliable, intelligent energy storage solutions that power communities and strengthen grids.