IIT Hyderabad and Canada’s paid capacity incubates pure partners to get involved in North American energy storage market

IIT Hyderabad’s I-TIC incubation battery technology and power electronics company Pure has partnered with Chance Power Inc in Canada to get involved in its businesses entering the North American energy storage market, including a suite of residential, commercial and grid-scale applications.

Under the partnership, Pure’s energy storage products will be introduced in Canada and the United States through a common arrangement. Its focus will be on grid scale products in the U.S. market, mainly commercial and industrial (C&I) and grid scale products in Canada, it noted in a press release on Friday (May 16, 2025).

The collaboration will help Pure enter two markets, with rising demand for energy storage products driven in large part by the increasing integration of renewable energy sources such as solar and wind. By 2033, the U.S. energy storage market is expected to reach $700.7 billion at a CAGR of 13.9%. The Canadian market is also expected to grow by 15.8% at a CAGR of 15.8% by 2030, the company said.

Utilizing two markets is a key component of its global expansion strategy. “By leveraging our respective strengths and capabilities, we are confident that we have a significant impact on these markets in the coming months,” said Pure founder and MD Nishanth Dongari.

Charge Power MD Ravi Pinnelli said Pure’s manufacturing capabilities complement his company’s skilled expertise in engineering procurement and construction (EPC) contracts (EPC) contracts, system integration and life cycle management.

Pure said it will retain all intellectual property rights related to energy storage products to protect its proprietary technology as it expands.