Epsilon Advanced Materials, a leading battery materials company in India, announced its plans to invest $650 million in the US.
Epsilon Advanced Materials said it will set up a 50,000 TPA synthetic graphite anode manufacturing facility in the US to supply high-capacity anode materials produced through green technologies. The proposed facility in the US will provide critical battery materials to power more than 1 million Electric Vehicles.
Epsilon Advanced Materials is expected to generate revenue of more than $500 million at full capacity by 2031. Epsilon Advanced Materials will generate more than 1,500 direct and indirect employment opportunities at this facility.
The facility is expected to be commissioned by 2026.
It is currently evaluating potential locations for the proposed facility across the US, Vikaran Handa, Founder and Managing Director of Epsilon Advanced Materials, said in a statement.
Epsilon Advanced Materials has already signed supply agreements with local raw material suppliers and transportation partners in order to create a seamless supply chain network with a focus on reducing carbon emissions and transportation costs.