Epsilon Advanced Materials plans to allocate $650 million to establish synthetic graphite anodes manufacturing facility in the United States

Epsilon Advance, a prominent battery part manufacturer, has recently disclosed its plan to allocate a staggering sum of USD 650 million to establish a plant in the United States. This facility will specialize in the production of synthetic graphite anodes that is utilized in the production of batteries. The company aims to manufacture a sufficient quantity of these anodes to cater to the needs of more than one million electric cars annually.

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Epsilon Carbon, a renowned producer of coal tar derivatives, has established Epsilon Advance, a division that aims to create graphite anodes utilized in Electric Vehicles and other electronic products.

The synthetic graphite anode manufacturing unit is company’s first investment in the US. Though the location of the facility is yet to be finalized, the unit is expected to generate a whopping USD 500 million in revenue.

The establishment of the facility is poised to create over 1,500 job opportunities, both directly and indirectly, and Epsilon Advance is working towards having it operational by 2026. This significant step towards expanding its operations in the US will contribute to the growth of the country's economy.

The investment by EAM is expected to benefit both the US and India, as it will reduce their reliance on China for batteries used in EVs. Currently, many countries import these cells from China, but US automakers are actively seeking alternative sources. This investment will strengthen the trade partnership between the two countries.

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According to Procurement Resource, the partnership between India and the USA will be mutually beneficial. As the electric vehicle market continues to expand, there is a higher demand for batteries. Epsilon Advance supplies the necessary raw materials for these batteries. Therefore, this investment will meet the growing need for batteries used in electric vehicles.