Qpi Technology announces a new subsidiary, Qpivolta, to produce solid-state batteries and to power cell phones, EVs, energy utilities and space ships with quantum batteries.
According to the official release, Dr Nagendra Nagaraja, Founder, CEO and Chairman of Qpi Technology, stated that the company aims to serve humanity with its advanced technologies. Dr Nagaraja believes that batteries will play a significant role in augmenting humanity. He said, “Starting with solid-state batteries based on new material we are working on and all-important Quantum batteries will advance many energy-dependent applications. Will make our planet greener and less dependent on fossil fuels.”
“Qpivolta will be the crown jewel of technology innovation by Qpi Technology,” added Dr Nagaraja.
Further, Dr Nagaraja suggested that this Bangalore-based AI modelling and the quantum computing company will be experimenting on its quantum technology at scale for the next two years. By the end of 2021, the company will start looking for suitable locations for setting up its chemical factory driven by quantum simulation and synthesis.
For the first phase of the battery Giga factory, Qpi has created a budget of ₹1000 crore investment for the initial manufacturing plant. The plant is planned to be production-ready by 2025-2026, “when one or many of these battery technologies become stable that yield cost and performance benefits,” said Dr Nagaraja. Once the manufacturing facility is established, Qpi will bring newer battery technologies with high volume and throughput from the manufacturing facility based out of Bangalore.
Dr Nagaraja also urges the government to assist the ream in enabling these kinds of manufacturing capabilities out of India. He said, “… we expect a lot of help from the Indian government and Government of Karnataka here,” which will not only create technology advancement but will also create a large number of jobs in manufacturing and R&D.
Talking more about QpiAI quantum compute and special hybrid processors, Dr Nagaraja added that “Qpivolta, along with Qpicloud, will be two big OPEX and CAPEX heavy subsidiaries of Qpi Technology. To facilitate this, Qpi is planning to nurture current leadership talent in the Qpi Technology companies and hire new talents to handle these technology innovations on a massive scale.
The company expects a major technical breakthrough in 2022-23 and looking to partner with major battery suppliers, distributors, electronics OEM and EV manufacturers around the world to ramp up its volumes. “We do expect 4-5 variants of batteries for different applications. Since our innovation has a great cost, performance benefits and possibilities of world’s best energy density, we do expect robust distribution channels, picking up the end products at volume,” said Dr Nagaraja. “But a bigger problem will be supply chain; we are working hard to figure that out. There are a good amount of sources of raw materials we require. We would like to create sources both in India and abroad as a priority.”
Qpi Technology is planning to fun this entire project; however, the team is looking to receive some investments from high-quality investors, working capital loans for priority sectors, Advances from customers and government grants.