The agreement includes the commercial supply finalization of one specific electrolyte additive and initiates the discussion on three others, said the company.

Dr. Aman Desai (director, research, manufacturing, and operations) for Aether Industries said, “We are equally excited to announce Aether’s entry in the electrolyte additives and battery space. We have been developing products for this field for a long time but wanted to make it public knowledge only after securing a substantial commercial contract with a global lithium-ion battery producer.”

Aether Industries is engaged in the business of specialty chemicals and intermediates. The products of the company find application in various sectors like pharmaceuticals, agrochemicals, specialty, electronic chemicals, material sciences and high performance photography etc.

The company reported 34.9% surged in consolidated net profit to Rs 36.68 crore on 17.1% jumped in net sales to Rs 164.17 crore in Q2 FY24 over Q2 FY23.

Shares of Aether Industries declined 1.81% to Rs 891.45 on the BSE.