$BRLL Feb. 10, 2021 (GLOBE NEWSWIRE) -- Barrel Ene
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Posted On: 02/12/2021 12:37:46 PM
$BRLL Feb. 10, 2021 (GLOBE NEWSWIRE) -- Barrel Energy Inc. (the “Company” or “Barrel”) (OTC: BRLL) is pleased to announce it has signed a Memorandum of Understanding to enter a partnership with Roshan Energy Technologies Pvt. Ltd (“Roshan”), located in Hyderabad, India, for Lithium Battery development and production in India and North America.
As part of the venture, Barrel will become a majority stakeholder in Roshan allowing Barrel Energy the platform for expansion into the massive India market and into international markets. Roshan and Barrel plan on establishing a U.S. based manufacturing unit for key battery designs within Roshan’s line of Lithium products.
A joint R&D division will be developed in conjunction with Barrels’ Nevada Tech Center as part of the partnership. Roshan’s Ashok Shukla, a professor emeritus with 40 years' research experience of specialized batteries and over 350 published technical papers will lead the team with the aim of designing customized solutions for battery development, improvement, and recycling.
As part of this transformative deal, Roshan and Barrel will first establish a Lithium Battery Manufacturing facility in India. Plans for the facility with a three phase roll out of powerful products has been in development by Roshan’s CEO and engineering team leader, Mr. S.A. Gaffoor. Mr. Gaffoor, a veteran electrical Engineer and entrepreneur, has over 25 years in designing and developing industrial battery products and holds 10 patents for advanced battery technologies.
As part of the venture, Barrel will become a majority stakeholder in Roshan allowing Barrel Energy the platform for expansion into the massive India market and into international markets. Roshan and Barrel plan on establishing a U.S. based manufacturing unit for key battery designs within Roshan’s line of Lithium products.
A joint R&D division will be developed in conjunction with Barrels’ Nevada Tech Center as part of the partnership. Roshan’s Ashok Shukla, a professor emeritus with 40 years' research experience of specialized batteries and over 350 published technical papers will lead the team with the aim of designing customized solutions for battery development, improvement, and recycling.
As part of this transformative deal, Roshan and Barrel will first establish a Lithium Battery Manufacturing facility in India. Plans for the facility with a three phase roll out of powerful products has been in development by Roshan’s CEO and engineering team leader, Mr. S.A. Gaffoor. Mr. Gaffoor, a veteran electrical Engineer and entrepreneur, has over 25 years in designing and developing industrial battery products and holds 10 patents for advanced battery technologies.
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