Epic Energy Limited has entered into a strategic collaboration with REFNIC for developing comprehensive lithium-ion battery recycling and second-life battery initiatives. The partnership, announced on February 03, 2026, represents a significant milestone in the company's sustainable energy strategy and circular economy solutions.

Partnership Structure and Scope

The collaboration brings REFNIC, a brand operated by Zetrance Technology Private Limited, onboard as the technical partner for Epic Energy's battery recycling initiatives through its Special Purpose Vehicle, Swachchha Urja Nirman LLP (SUN LLP). REFNIC will handle the complete development cycle including design, engineering, integration, installation, and commissioning of the proposed facilities.

Facility Capabilities and Environmental Impact

The proposed facilities are designed to support responsible recycling, repurposing, and value recovery of end-of-life lithium-ion batteries. The initiative addresses the growing need for structured battery waste management as electric mobility and energy storage solutions continue to scale across India.

The facilities will focus on:

• Scientific handling of industrial residues and process sludge
• Structured repurposing of usable cells through second-life applications
• Recoverable materials processing with environmental compliance
• Building future-ready clean-energy supply chains

Management Perspectives

Mr. Bhalchandra Kadam, Partner at SUN LLP, emphasized the importance of addressing both battery recycling and structured repurposing: "As adoption of electric mobility and energy-storage solutions continues to scale, it is essential to address not only battery recycling but also the structured repurposing of usable cells through second-life applications."

Mr. Nikhil Morsawala, Chief Financial Officer of Epic Energy Limited, highlighted the scalable nature of the platform: "This initiative marks a measured step forward for Epic Energy. The engagement with REFNIC establishes a scalable technical platform. Over time, this platform may be expanded across India and, where appropriate, extended to global opportunities as the ecosystem evolves."

Mr. Mohit Gulati, Director at REFNIC, outlined the technical capabilities: "Our systems are designed to support both efficient lithium-ion battery recycling and structured second-life battery assembly, with a strong focus on operational stability, low power consumption, and environmental safeguards."

Strategic Alignment and Future Expansion

This collaboration aligns with Epic Energy's long-term strategy focused on sustainable energy systems and circular-economy solutions. The company operates as an integrated energy company engaged in renewable power generation and clean-energy infrastructure, spanning solar power, EV charging, energy storage, and circular-economy initiatives.

REFNIC brings specialized expertise in lithium-ion battery recycling, second-life battery systems, e-waste recycling, and metal recovery. The company combines process-engineering capabilities with on-ground execution, offering comprehensive services from process design to ongoing operational support.

The partnership establishes a foundation for Epic Energy's entry into the battery recycling sector, positioning the company to capitalize on India's growing electric vehicle market and the associated need for sustainable battery waste management solutions.

Epic Energy Limited has announced a significant development in its renewable energy portfolio, with its wholly owned subsidiary receiving regulatory approvals for a solar power project in Gujarat. The company disclosed this information to BSE Limited on January 21, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Project Details and Regulatory Approvals

Epic Renewable Projects Private Limited (ERPPL), the company's wholly owned subsidiary, has secured the necessary regulatory approvals for developing a 2.70 MWh solar power project under the Distributed Renewable Energy Bilateral Procurement (DREBP) framework in Gujarat. The project represents a strategic expansion of the company's renewable energy operations in the state.

Grid Connectivity and Power Purchase Agreement

The project has received grid connectivity approval along with a Letter of Award from Paschim Gujarat Vij Company Limited (PGVCL) for connectivity at the GETCO 66 kV Kera Substation. The Letter of Award is contingent upon the execution of the Power Purchase Agreement (PPA) within the stipulated timeline as prescribed by the regulatory framework.

The solar power generated from this project is proposed for sale to the concerned Distribution Company (DISCOM) under the DREBP framework, ensuring a structured offtake mechanism for the renewable energy produced.

Implementation Timeline and Ownership Structure

The project is expected to be commissioned within 3 to 6 months from the date of execution of the PPA with PGVCL. This timeline is subject to the receipt of applicable regulatory approvals and completion of procedural formalities required for project implementation.

Financial Structure and Investment Approach

The solar power project will be fully owned by the project Special Purpose Vehicle, ERPPL. Project financing is proposed to be undertaken through a judicious mix of equity and debt at the SPV level. The detailed financing structure is currently under finalization, indicating the company's strategic approach to optimizing capital allocation for renewable energy investments.

The company confirmed that this agreement does not fall within related party transactions, and promoter groups have no interest in the entity being acquired. The project development represents an arm's length transaction aligned with the company's renewable energy expansion strategy.