EAM invests $650M in new US anode materials plant
Epsilon Advanced Materials (EAM), an Indian battery materials company, plans to build a USD 650 million graphite anode manufacturing facility in Brunswick County, North Carolina.
The facility is the first and largest Indian investment in the US EV battery industry.
“We’re proud to have North Carolina at the focal point of our U.S. manufacturing strategy. With its favorable geographical location, business supportive policies and availability of a skilled talent pool, we are confident that the investment in the state is a major step towards creating sustainable energy transportation alternatives,” said EAM Managing Director Vikram Handa in a press release.
The company plans to break ground in 2024 and start manufacturing in 2026, reaching full capacity by 2031. When operational, the facility will utilise green technologies to produce high-capacity anode materials for EV batteries. The facility is expected to create approximately 500 new jobs.
EAM says that it is already in discussions with local raw material suppliers and transportation partners for its North Carolina operations. When fully operational, the EAM facility will produce 50,000 tons per annum (TPA) of graphite anode.