Mumbai: Epsilon Carbon’s subsidiary, Epsilon Advanced Materials Pvt Ltd, is set to sign offtake agreements for lithium-ion battery anode material within six months. The agreements will involve its planned manufacturing units in the US and India, according to managing director Vikram Handa.
The company has completed customer qualifications for its anode materials at both sites. Finalizing these agreements will enable Epsilon to proceed with constructing the plants, each with a 30,000 tonnes-per-annum capacity. These facilities, the largest outside China, are expected to meet growing global demand for lithium-ion battery components.
While Epsilon’s US plant will focus on the American market, the Indian unit will initially cater to export needs. The company is also awaiting regulatory approval for a similar project in Finland, which may take up to 18 months.
Despite the growing lithium-ion cell market in India, no domestic supply agreements have been signed, as local companies continue sourcing anode material from China. Epsilon has, however, secured qualifications with customers in South Korea and Japan, and plans to expand capacity in India as local demand increases.
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