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Epsilon Advanced Materials Plans $650

Epsilon Advanced Materials (EAM), an Indian battery materials company,
has unveiled ambitious plans to invest $650 million in creating a synthetic
graphite anode manufacturing facility in the United States, boasting a
production capacity of 50,000 tons per annum.

In a bid to power over a million electric vehicles (EVs), Epsilon aims to
employ sustainable technologies to craft high-capacity anode materials at
this pioneering facility. This initiative emerges as a crucial step toward
fostering the growth of the EV sector. EAM highlighted that this proposed
synthetic graphite anode processing plant signifies the largest Indian
investment in the U.S. EV battery industry thus far. Furthermore, this
strategic investment serves to strengthen trade ties between the two
nations, an aspect acknowledged in a recent joint statement from the White
House by President Joe Biden and Prime Minister Narendra Modi.

Epsilon Advanced Materials is currently evaluating various potential
locations across the United States for the facility. However, the realization
of this endeavor is contingent upon regulatory clearances, environmental
permits, and agreements on state and local incentives.

To establish an efficient supply chain network with a focus on curbing
carbon emissions and transportation costs, EAM has already entered into
strategic supply agreements with local raw material suppliers and transport
partners. The company envisions commissioning the facility by 2026,
projecting revenue exceeding $500 million at full capacity by 2031. Vikram
Handa, the Founder and Managing Director of Epsilon Advanced Materials,

emphasized, “Our investment in the USA is driven by the intent of
Energizing the World with clean energy solutions. The battery value chain
is a critical enabler to electric mobility adoption, and we are channeling our
efforts to localize the battery manufacturing ecosystem.”
The U.S. administration has set an ambitious goal to achieve 50% EV sales
by 2030 and to establish 1,000 GWh of battery capacity. Epsilon’s
forthcoming facility is anticipated to play a pivotal role in advancing the
U.S.’s EV strategy by establishing a domestic supply chain for EV batteries
and bolstering the government’s commitment to secure critical minerals.

The company lauded the U.S. Inflation Reduction Act (IRA) as a
transformative opportunity for India’s chemical industry to transition
minerals into battery materials, thereby reducing dependency on China.
Notably, in November of the previous year, Epsilon Advanced Materials
inked a memorandum of understanding with the government of Karnataka
to invest around ₹90 billion (~$1.1 billion) in establishing battery
manufacturing plants within the state over a decade. Additionally, in March
of this year, the U.S. and the European Union reached an agreement
regarding the sourcing of critical minerals employed in EV batteries.

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