Yuma Energy, a leading provider of Battery-as-a-Service (BaaS) in India, has acquired Grinntech Motors & Services Pvt. Ltd., a Chennai-based start-up specializing in energy storage solutions. This strategic acquisition aligns with Yuma Energy’s goal of advancing clean energy adoption by incorporating innovative battery technology, research, and manufacturing into its operations.
Through the integration of Grinntech’s expertise, Yuma Energy plans to create a fully integrated BaaS ecosystem. This will include battery design, production, charging infrastructure, a swapping network, and digital customer solutions. Muthu Subramanian, Managing Director and General Manager of Yuma Energy, commented, “This acquisition enhances our capabilities in battery management systems, research, and manufacturing. With Grinntech’s technology, we aim to improve performance, reliability, and safety.” The two companies have been collaborating for over 18 months, culminating in the joint development of a new battery showcased at the Bharat Battery Show in New Delhi in January 2025.
Grinntech is known for its advanced energy storage solutions for electric vehicles (EVs) and industrial applications. The company’s co-founder, Puneet Jain, expressed excitement about the merger, saying, “We are eager to join Yuma Energy and contribute to the advancement of battery technology.” His fellow co-founder, Nikhilesh Mishra, added, “Together, we will foster innovation and support India’s transition to a sustainable future.”
This acquisition solidifies Yuma Energy’s position in India’s growing electric mobility sector. By enhancing its battery swapping services, charging infrastructure, and digital management solutions, Yuma Energy aims to offer cutting-edge, sustainable energy solutions. Grinntech’s expertise in developing high-performance, cost-effective, and safe energy storage systems will complement Yuma’s efforts to deliver reliable energy solutions.
Yuma Energy is India’s leading BaaS provider, dedicated to making transportation more accessible, affordable, and sustainable. With a focus on energy-as-a-service solutions, the company offers carbon-free mobility through its efficient battery-swapping network. Yuma Energy ensures 99% uptime and an average swap time of under one minute. The company has already completed over 20 million swaps, powering more than 800 million kilometers of green journeys. Yuma Energy is supported by global mobility leader Magna and Yulu, India’s largest shared electric mobility company.
Founded in 2013 by IIT alumni Puneet Jain and Nikhilesh Mishra, Grinntech Motors & Services specializes in lithium-ion battery solutions for EVs and energy storage. The company offers a variety of products, including fully integrated battery packs, off-the-shelf solutions, and custom-engineered systems with proprietary battery analytics. With automated manufacturing, modular production layouts, and expertise in thermal and mechanical design, Grinntech ensures that its batteries are high-performing, safe, and long-lasting, tailored to meet the growing demands of the electric vehicle market.
