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Epsilon to build $650 million anode plant in North Carolina","indias-epsilon-to-build-650-million-anode-plant-in-north-carolina","article/indias-epsilon-to-build-650-million-anode-plant-in-north-carolina",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":733,"featured":51,"reporter":734,"_editable":738,"component":739,"seo_title":553,"categories":740,"visibility":746,"author_company":49,"featured_image":747,"seo_description":733,"author_full_name":49,"author_job_title":49,"formattedDate":751,"formattedArticleDate":752},"c16a5406-07ff-4307-8555-3db6f38760a8","2023-10-26 00:00",[560],{"slug":561,"name":562},"usa","USA",[564],{"slug":565,"name":566,"content":567},"didi-bostock","Didi Bostock",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Editor - Energy Transition & Economics",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":574,"content":575},"doc",[576,593,598,617,622,627,632,645,658,669,678,685,698,703,708,713,718,723,728],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580,583,591],{"text":581,"type":582},"India’s top battery anode producer Epsilon Advanced Materials said it will build its first ","text",{"text":584,"type":582,"marks":585},"plant",[586],{"type":587,"attrs":588},"link",{"href":589,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/the-inflation-reduction-act-has-really-shifted-the-whole-battery-industry-towards-north-america-qa-with-vianode-ceo-hans-erik-vatne","url",{"text":592,"type":582}," in the US in North Carolina, so as to meet demand from automakers looking to localise their supply chains.",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"The company plans to begin construction of the $650 million facility in mid-2024 and kick off commercial production in 2026. The plant will have an initial capacity of 30,000 tonnes a year of synthetic graphite anodes, reaching full capacity of 50,000 tonnes a year by 2031, enough to power 1.1 million electric vehicles. ",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601,607,609,615],{"text":602,"type":582,"marks":603},"China currently dominates",[604],{"type":587,"attrs":605},{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/in-charts-why-decoupling-from-chinas-anode-market-could-be-difficult-for-the-west",{"text":608,"type":582}," global anode production with a 92% share, according to ",{"text":610,"type":582,"marks":611},"Benchmark’s Anode Forecast",[612],{"type":587,"attrs":613},{"href":614,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://www.benchmarkminerals.com/forecasts/anode/",{"text":616,"type":582},". That share is expected to drop to 80% in 2030.",{"type":577,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":582},"US automakers will need to source a growing percentage of battery materials  from the US or free trade agreement countries, in order to receive electric vehicle subsidies under the US Inflation Reduction Act (IRA). ",{"type":577,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":582},"“US customers are looking for IRA-compliant material in 2026 and Epsilon hopes to be a big supplier to customers and support them with their requirements,” Vikram Handa, managing director of Epsilon, told Benchmark Source.",{"type":577,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":582},"Epsilon said it has secured non-binding agreements and advanced stage qualification with various battery makers and plans to enter offtakes soon.",{"type":577,"attrs":633,"content":634},{"textAlign":49},[635,637,643],{"text":636,"type":582},"The company, a producer of needle coke and synthetic graphite, added it will leverage its experience in ",{"text":638,"type":582,"marks":639},"India",[640],{"type":587,"attrs":641},{"href":642,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/indias-amara-raja-batteries-seeks-partner-for-1-16-billion-gigafactory-plant",{"text":644,"type":582}," to build a plant at a competitive cost.",{"type":577,"attrs":646,"content":647},{"textAlign":49},[648,650,656],{"text":649,"type":582},"The announcement also comes at a time when China’s decision to ",{"text":651,"type":582,"marks":652},"restrict some exports of graphite ",[653],{"type":587,"attrs":654},{"href":655,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/china-graphite-export-restrictions-could-hinder-ex-china-anode-development",{"text":657,"type":582},"products could curb production of battery anodes in South Korea and elsewhere.",{"type":577,"attrs":659,"content":660},{"textAlign":49},[661,663,667],{"text":662,"type":582},"Anode supply in the US is forecast to reach 113,600 tonnes in 2030, from 3,300 tonnes this year, according to ",{"text":610,"type":582,"marks":664},[665],{"type":587,"attrs":666},{"href":614,"uuid":49,"anchor":49,"target":49,"linktype":590},{"text":668,"type":582},". In contrast, global anode supply, which is dominated by China, is expected to reach 3.2 million tonnes in 2030 from 1.4 million tonnes this year.    ",{"type":577,"attrs":670,"content":671},{"textAlign":49},[672],{"type":673,"attrs":674},"image",{"id":49,"alt":675,"src":676,"title":49,"source":49,"copyright":49,"meta_data":677},"","https://a.storyblok.com/f/287943243085208/d65dfb8798/bm-us-anode-production.png",{},{"type":679,"attrs":680,"content":682},"heading",{"level":681,"textAlign":49},4,[683],{"text":684,"type":582},"Growth outside India",{"type":577,"attrs":686,"content":687},{"textAlign":49},[688,690,696],{"text":689,"type":582},"The company ",{"text":691,"type":582,"marks":692},"has previously told Benchmark Source",[693],{"type":587,"attrs":694},{"href":695,"uuid":49,"anchor":49,"target":49,"linktype":590},"https://source.benchmarkminerals.com/article/india-is-far-behind-in-race-to-build-battery-supply-chain-epsilon-says",{"text":697,"type":582}," it plans to focus on supplying global battery makers. In India, the company revealed plans last year to invest Rs 9,000 crore ($1.1 billion) in the country’s southern state Karnataka to set up a battery anode materials facility.",{"type":577,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":582},"A year ago, Epsilon also announced a project with Finnish Minerals Group (FMG) to establish a graphite anode plant in Finland with a capacity of 50,000 tonnes a year.",{"type":577,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":582},"Earlier this month, Epsilon acquired Johnson Matthey’s lithium-ion phosphate (LFP) cathode active material technology centre in Moosburg, Germany for an undisclosed amount. The move it said would eventually help the company go to market with cathode active material produced at scale.",{"type":577,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":582},"North Carolina emerging as a battery hub",{"type":577,"attrs":714,"content":715},{"textAlign":49},[716],{"text":717,"type":582},"North Carolina has attracted a number of projects linked to the clean energy transition. Epsilon said the location would help it streamline logistics and reduce costs, due to being near a port.",{"type":577,"attrs":719,"content":720},{"textAlign":49},[721],{"text":722,"type":582},"Other recent projects include Toyota’s plans to invest a total of $5.9 billion in North Carolina where the Japanese automaker plans to make batteries starting in 2025 for its upcoming electric vehicles. ",{"type":577,"attrs":724,"content":725},{"textAlign":49},[726],{"text":727,"type":582},"Vietnam’s electric vehicle maker VinFast too has announced a $4 billion investment in North Carolina for an automotive assembly and battery manufacturing plant. ",{"type":577,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":582},"Finnish electric vehicle charging station maker Kempower also has plans to make components in North Carolina.","India’s top battery anode producer Epsilon Advanced Materials said it will build its first plant in the US in North Carolina, so as to meet demand from automakers looking to localise their supply chains. The company plans to begin construction of the $650 million facility in mid-2024 and kick off commercial production in 2026. The […]",[735],{"slug":565,"name":566,"content":736},{"job_title":568,"image":737,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"c16a5406-07ff-4307-8555-3db6f38760a8\", \"id\": \"\"}-->","article",[741,743],{"slug":742,"name":263},"anode",{"slug":744,"name":745},"batteries","Batteries","private",{"id":49,"alt":675,"name":675,"focus":675,"title":675,"source":675,"filename":748,"copyright":675,"fieldtype":749,"meta_data":750,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/579293a6a6/bm-epsilon-anode-us-1307799096cd.jpg","asset",{"alt":675,"title":675,"source":675,"copyright":675},"Oct 26, 2023","26th October 2023",[],[],1792773908895]