Prostarm Info Systems Limited has informed the Exchange about Arrangements for strategic, technical, manufacturing, or marketing tie up
PROSTARM · price
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Prostarm Info Systems has signed a non-binding MOU with Shenzhen Topband Co. Ltd., a Chinese company, to establish a strategic alliance for Battery Energy Storage System (BESS) manufacturing in India. Under the agreement, TOPBAND will supply Semi-Knocked Down (SKD) BESS kits, technology, and technical know-how, while Prostarm will handle local assembly, integration, and commercialization. The company has committed to a minimum purchase of USD 10 million over 18 months from the first commercial order. The collaboration targets commercial & industrial, home/commercial, and utility-scale BESS projects, aligned with the 'Make in India' initiative. Definitive agreements will be executed later subject to regulatory approvals.
This strategic partnership gives Prostarm access to advanced BESS technology and global expertise, potentially accelerating its entry into India's growing energy storage market. The USD 10 million minimum purchase commitment signals meaningful revenue potential, though the MOU is non-binding at this stage.