HomeInvestment & Trading ›Epsilon Advanced Materials to Outlay USD 650 Million in EV Battery Components Amenity in USA

Epsilon Advanced Materials to Outlay USD 650 Million in EV Battery Components Amenity in USA

The amenity will create more than 1,500 direct and indirect job opportunities and is likely to be commenced by 2026.

June 26, 2023. By EI News Network

Epsilon Advanced Materials (EAM) has declared that it would outlay USD 650 million in an EV battery components amenity in the US.

The company is proposing to set up a 50,000 TPA synthetic graphite anode production amenity in the US to deliver high-capacity anode materials generated through green technologies.

The electric battery component amenity is anticipated to generate over USD 500 million at full capacity by 2031.

The amenity will create more than 1,500 direct and indirect job opportunities and is likely to be commenced by 2026.

Vikram Handa, Founder and Managing Director of Epsilon Advanced Materials, added, "Our investment in the US is driven by the intent of energizing the world with clean energy solutions".

He further said, "The battery value chain is a critical enabler to electric mobility adoption, and we are channelising our efforts to localise the battery manufacturing ecosystem. This will help automakers leverage the EV subsidies under the US Inflation Reduction Act and pass on the benefits to the end-user".

Epsilon Advanced Materials is a facilitator of battery material solutions, yielding high-performance, innovative, quality, and green Lithium-ion battery (Lib) materials.

The company was incorporated in 2018 and headquartered in Mumbai.

The company has a global footprint throughout Europe, North America, and South-East Asia.
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