Epsilon Advanced Materials (EAM) Announces $650 Million Investment in North Carolina Manufacturing Facilities to Strengthen U.S. Electric Vehicle Battery Industry

2023-10-26 20:41:01

Epsilon Advanced Materials (EAM), India’s leading battery materials company, today announced, along with North Carolina Governor Roy Cooper, at Brunswick County Community College, plans to build a $100,000 graphite anode manufacturing plant. 650 million in Brunswick County, North Carolina. The facility is the first and largest Indian investment in the US electric vehicle (EV) battery sector.

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Epsilon Advanced Materials (EAM) plans to build a $650 million graphite anode manufacturing facility in Brunswick County, N.C.. When operational, the facility will utilize green technologies to produce high-capacity anode materials for electric vehicle batteries. (Photo: Business Wire)

“We are proud to have North Carolina at the focal point of our U.S. manufacturing strategy. With its favorable geographic location, business-supportive policies and availability of a skilled talent pool, we are confident that investment in the state is an important step towards creating sustainable energy transportation alternatives,” said EAM Managing Director Vikram Handa.

Governor Cooper said North Carolina welcomes EAM and the development of its new 1.5 million square foot facility, which is expected to create approximately 500 new jobs for the Wilmington metro area. “North Carolina continues to lead the transition to a clean energy economy by attracting good-paying jobs from great companies like Epsilon that make our state stronger and healthier,” said Governor Cooper. “This historic investment will bring 500 clean energy jobs to Brunswick County, helping both our economy and our environment.”

“Having a world-class, environmentally friendly facility in North Carolina addresses the supply chain concerns the automotive industry has been facing in recent years,” said EAM Executive Director Sunit Kapur. “We are proud that with our technological capability to produce natural and synthetic graphite, we will be able to supply graphite anodes to the growing electric vehicle battery sector faster, more reliably and at a competitive cost, without import challenges.”

The company plans to break ground in 2024 and begin manufacturing in 2026, reaching full capacity in 2031. Once operational, the facility will use environmentally friendly technologies to produce high-capacity anode materials for electric vehicle batteries.

Establishing a manufacturing facility in Brunswick County, North Carolina offers strategic advantages such as proximity to the Port of Wilmington, automotive suppliers, Southeast vehicle manufacturing facilities and the local community college. The location also speeds up logistics, reduces costs and offers access to the growing electric vehicle market. The skilled local workforce, with community college support, and potential economic incentives improve the business environment, while geographic features provide resilience and sustainability.

Localizing the battery manufacturing ecosystem will not only offer strategic advantages, but will also align with the broader goal of helping automakers take advantage of electric vehicle subsidies under the US Inflation Reduction Act (IRA). This location will boost national manufacturing by creating good-paying jobs and promoting economic growth in the community.

These efforts will help build more resilient, secure and reliable supply chains, which are essential to the sustainability and competitiveness of the U.S. electric vehicle industry.

EAM, a wholly-owned subsidiary of Epsilon Carbon Pvt Ltd., is already in negotiations with local raw material suppliers and transportation partners for its North Carolina operations. When fully operational, the EAM facility will produce 50,000 tonnes per year (TPA) of graphite anode.

About Epsilon Advanced Materials

Epsilon Advanced Materials is at the forefront of battery materials solutions, producing high-caliber lithium-ion battery (LiB) materials with innovation and environmental awareness. Founded in 2018 and headquartered in Mumbai, Epsilon’s mission resonates in supporting the global battery industry’s transition to clean, green energy. With a significant presence in Europe, North America and Southeast Asia, Epsilon continues to set industry benchmarks.

The original language text of this announcement is the official authorized version. Translations are provided as a facility only and must refer to the text in the original language, which is the only version of the text that has legal effect.

View original version on businesswire.com:

Contact:

USA:

John Tews

French/West/Vaughan

248-320-3814

[email protected]

Earl Whipple

French/West/Vaughan

215-847-2647

[email protected]

India:

Sandeep Kumar

Epsilon Carbon Pvt. Ltd.

[phone]

[email protected]

Source: BUSINESS WIRE

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