Servotech Renewable Power System Limited — Capital/Financing Update 2022

Sep 16, 2022

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16[th] September, 2022

To,

National Stock Exchange of India Limited Exchange Plaza, NSE Building, Bandra Kurla Complex, Bandra East, Mumbai-400 451

Trading Symbol: SERVOTECH

Sub.: Press Release – Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir/Madam,

With reference to the captioned subject, we are enclosing herewith a Press Release with respect to Incorporation of New Subsidiary Dedicated to Battery Manufacturing - Techbec Industries Limited.

Please consider the aforesaid as relevant disclosure required pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kindly take the above information on record and oblige.

Thanking You,

FOR SERVOTECH POWER SYSTEMS LIMITED

PRIYA Digitally signed by PRIYA PANDEY PANDEY Date: 2022.09.16 12:58:27 +05'30' PRIYA PANDEY COMPANY SECRETARY ICSI MEM.NO.: A35815

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Servotech Power Systems Limited

CIN : L31200DL2004PLC129379 REGISTERED OFFICE: 806, 8[th] Floor, Crown Heights, Hotel Crown Plaza, Sector-10 , Rohini, New Delhi -110085 PLANT AND R&D :76A ,Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028 Tel No : 011-41183117,• Sales: +91 9717691800,• Email : servotech@servotechindia.com , •Website: www.servotech.in

PRESS RELEASE

Servotech Announces Incorporation of New Subsidiary Dedicated to Battery Manufacturing Techbec Industries Limited

New Delhi, September 16 2022: NSE-listed Servotech Power Systems Ltd. has announced that it has incorporated a subsidiary, Techbec Industries Limited (TIL) , which will be engaged in the manufacturing of batteries, particularly lithium-ion batteries, and other allied activities.

TIL was issued the Certificate of Incorporation on September 13, 2022, and Servotech, which will be the holding company of TIL, would hold 63.5% share capital in the newly established battery manufacturing entity. The new subsidiary has been incorporated with the authorised capital of Rs. 10 Lakhs comprising 1,00,000 Equity shares of Rs. 10/- each, Servotech added in the exchange filing.

On this occasion, Raman Bhatia, Founder and Managing Director, Servotech Power Systems quoted, “India must produce its own lithiumion batteries in order to achieve its EV goals without importing any. The National Mission on Transformative Mobility was established by the government to support initiatives for the stepped manufacture of batteries and EV components. Servotech’s newly launched subsidiary will be one of the most bankable and competitive integrated battery storage solutions in the market, extending and facilitating its goal of indigenizing battery manufacturing for EVs, E-rickshaws, and varied solar-powered solutions. TIL intends to bring specific focus to support the electric vehicle (EV) segment and the battery-as-a-service business model offering across its portfolio of commercial vehicles. In addition to the existing State Transport Undertakings (STUs) and government fleets, TIL will also cater to all business opportunities across passenger mobility applications. These efforts will be bolstered from our tech-enabled, newly-setup manufacturing unit at Safiabad, Sonipat, Haryana. The facility which will shortly be operational is spread in 40,000 Sq. ft. and has the capacity to produce up to 6,00,000 units of battery pack annually. This workshop will be equipped with fully-automated, cutting-edge production lines and testing facilities

for the making of custom-designed battery modules, packs, and containerization.”

As people become more aware of climate change and its effects on the environment, they are adopting greener practices. People are now considering adopting electric vehicles and sustainable energy sources to lessen their carbon footprints as a result of the issue's increased awareness. The newly-benchmarked IS-17855 standard by the Bureau of Indian Standards is used to assess the performance of lithium-ion battery packs (BIS). In order to evaluate parameters such as energy efficiency, cranking power, quick charging efficiency, temperature-dependent deterioration, loss of charge during storage, and others, BIS has developed a new set of performance tests for this standard. Lithium battery Star Ratings were recently introduced by the Bureau of Energy Efficiency (BEE). With this criteria in place, customers would be able to distinguish between various battery packs in terms of safety, quality, and other factors, which may promote adoption and confidence.