Altmin is building India's first factory to manufacture the cathodes inside lithium batteries
The Hyderabad-based company makes lithium iron phosphate cathode active material, the single most expensive component in a battery cell, which India currently imports almost entirely.
Altmin, founded in 2023 by Anjani Sri Mourya Sunkavalli and Kiriti Varma, is building India's first factory to manufacture cathodes for lithium-ion batteries. The company aims to become supply-chain integrated, producing cathode materials from refining ore to finished powder. In 2023, Altmin and ARCI established a 10-megawatt pilot plant at Balapur, producing around 100 kilograms of lithium iron phosphate (LFP) per day.
In March 2025, Altmin unveiled plans for a Rs 750 crore facility at Divitipally, Telangana, with an initial capacity of 8 gigawatt-hours and a target of 100,000 tonnes per year by 2030. In June 2025, the company announced a 2026 launch target. Altmin has secured raw material sourcing through a partnership with Bolivia's state lithium company, YLB, and has a research agreement with the University of Warwick.
Additionally, Altmin has acquired a lithium refinery in Brazil, collaborating with Brazilian miner Companhia Brasileira de Litio. The company's progress includes being listed with the Minerals Security Partnership in September 2025, a US-led alliance focused on diversifying critical mineral supply chains.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
