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					</table><p>Epsilon Advanced Materials (<a href="https://www.epsilonam.com/" target="_blank" rel="noopener">EAM</a>), an India-based battery materials company, has announced plans to invest $650 million to establish a synthetic graphite anode manufacturing facility in the U.S. with a 50,000 tons per annum production capacity.</p>
<p>Epsilon plans to utilize green technologies to produce high-capacity anode materials at this facility, which would be crucial in powering over 1 million electric vehicles (EVs).</p>
<p>The company said the proposed synthetic graphite anode processing facility represents the largest Indian investment in the U.S. EV battery industry to date.</p>
<p>Additionally, the investment seeks to strengthen the trade relationship between the two countries.</p>
<p>In their recent joint statement from the White House, President Joe Biden, and Prime Minister Narendra Modi have also acknowledged Epsilon Advanced Materials&#8217; investment in the U.S., the company mentioned.</p>
<p>Epsilon is evaluating multiple locations across the U.S. for the proposed facility, subject to regulatory approvals, environmental permits, and state and local incentive agreements.</p>
<p>The company has already signed strategic supply agreements with local raw material suppliers and transport partners to establish an efficient supply chain network with a focus on minimizing carbon emissions and reducing transportation costs.</p>
<p>The company aims to commission the facility by 2026 and is expected to generate revenue exceeding $500 million at full capacity by 2031.</p>
<p>Vikram Handa, the Founder and Managing Director of Epsilon Advanced Materials, said, &#8220;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 channelizing our efforts to localize the battery manufacturing ecosystem.&#8221;</p>
<p>The U.S. government has set an ambitious goal to achieve 50% EV sales by 2030 and generate 1,000 GWh of battery capacity.</p>
<p>Epsilon&#8217;s facility is expected to contribute to the U.S.’s EV roadmap by establishing a local supply chain for EV batteries and supporting the government&#8217;s mandate for critical mineral security.</p>
<p>In its statement, the company hailed the U.S. Inflation Reduction Act (IRA) as a significant opportunity for India&#8217;s chemical industry to transform minerals into battery materials and reduce dependence on China.</p>
<p>The act stipulates that sourcing critical battery materials from China will not qualify for the $7,500 credit per EV. Consequently, U.S. automakers have sought alternative countries to acquire these essential battery materials.</p>
<p>Epsilon aims to capitalize on this opportunity by supporting energy transitions in the U.S. and India.</p>
<p>Last November, Epsilon Advanced Materials <a href="https://www.mercomindia.com/daily-news-wrap-up-vestas-supplies-to-vibrant-energys-wind-project" target="_blank" rel="noopener">signed</a> a memorandum of understanding with the government of Karnataka to invest around ₹90 billion (~$1.1 billion) to establish battery manufacturing plants in the state over ten years.</p>
<p>In March this year, the U.S. and the EU <a href="https://www.mercomindia.com/us-eu-agreement-sourcing-minerals-ev-batteries" target="_blank" rel="noopener">reached</a> an agreement on sourcing critical minerals used in EV batteries.</p>


Epsilon to Establish $650 Million EV Battery Components Factory in the US

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