Battery materials giant Epsilon Advanced Materials (EAM) advances as the first Indian company to commit significant investment in the US electric vehicle industry for a local production plant development.
The company announcement occurred at Brunswick County Community College with the presence of Governor Roy Cooper.
Investment details
According to the press release, EAM aims to invest $650 million to develop a high-capacity synthetic anode materials factory in North Carolina as it seeks to expand its business operations in the US.
In addition, the establishment of the new 1.5 million-square-foot factory will also enable EAM to access government support and a wider talent pool. Business Facilities reported the JDIG agreement that approves approximately $3.4 million potential reimbursement to EAM over 12 years, given that it hits job-creation and investment targets by the end of 2028.
“We’re proud to have North Carolina at the focal point of our US 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.”
EAM Managing Director Vikram Handa
The Indian company expects the project to generate about 500 new job positions in the Wilmington area.
“North Carolina continues to lead the way in the transition to a clean energy economy by attracting good-paying jobs from great companies like Epsilon that make our state stronger and healthie. This historic investment will bring 500 clean energy jobs to Brunswick County, helping both our economy and our environment.”
Governor Roy Cooper
Targets
EAM targets to launch the groundbreaking ceremony as early as next year. Meanwhile, the official start of high-capacity anode materials production is set in 2026.
According to the Associated Press, the company expects to hit an annual production output of 50,000 tons (45,359 metric tonnes) of battery materials when it hits full operational capacity by 2031.
“Having an environmentally friendly world-class facility in North Carolina resolves supply chain concerns that the automotive industry has experienced in recent years. We are proud that with our tech capability to manufacture both natural and synthetic graphite, we will be able to provide graphite anodes to the growing EV battery industry faster, more reliably, and at a competitive cost without import challenges.”
EAM CEO Sunit Kapur
Advantages
EAM indicated that investing in Brunswick County will provide major advantages for its expansion plans. For instance, the site is near critical sites such as the Wilmington port, auto suppliers, Southeastern vehicle manufacturing plants, and the local community college.
“The location also streamlines logistics, reduces costs and provides access to the growing electric vehicle market. The skilled local workforce, with support from the community college, and potential economic incentives enhance the business environment, while geographic features offer resilience and sustainability.”
EAM
Moreover, it will also enable the company to tap into the US IRA’s electric vehicle subsidies.
EAM’s decision to establish domestic production of synthetic anode battery materials will significantly boost its expansion efforts and provide a wider range of customer base. In return, it will also aid the US Government’s efforts to encourage foreign investments and establish a local supply chain to cut reliance on China.
