This acquisition serves as a catalyst for Epsilon's ambitious plans to eventually cater to 100 GwH of demands.
04 Oct 2023 | 2122 Views | By Autocar Professional Bureau
Epsilon Group, an Indian battery materials manufacturer, today announced it has signed an agreement to acquire Johnson Matthey’s lithium-ion phosphate (LFP) cathode active material technology center in Moosburg, Germany. Financial details of the acquisition remain undisclosed.
The acquisition allows Epsilon to go to market with a proven high-performance cathode ...
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Epsilon Group, an Indian battery materials manufacturer, today announced it has signed an agreement to acquire Johnson Matthey’s lithium-ion phosphate (LFP) cathode active material technology center in Moosburg, Germany. Financial details of the acquisition remain undisclosed.
The acquisition allows Epsilon to go to market with a proven high-performance cathode active material produced at scale. "At Epsilon, we envision a world galvanized by sustainable energy alternatives,” said Vikram Handa, Managing Director of Epsilon Group. “Our advancement in anode research and manufacturing was a first step, and this acquisition underscores our commitment to serving our global clientele with sustainable and reliable material," he added.
Strategic Advantages
By leveraging the existing infrastructure and capabilities of the Moosburg facility, Epsilon aims to significantly reduce the technology development and scale-up timeframe. This acquisition serves as a catalyst for Epsilon's ambitious plans to eventually cater to 100 GwH of demands. In alignment with its vision, Epsilon has previously announced a US $1.1 billion investment in the establishment of a 100,000-ton anode battery materials manufacturing facility in Bellari, Karnataka, India, with subsequent expansions in Europe. Epsilon also has plans for a $650 million manufacturing facility in the U.S.
The global electric vehicle market, valued at US $380 billion in 2022, is projected to soar to US $1.5 trillion by 2030, according to Fortune Business Insights. Cathode materials are pivotal to this growth trajectory. Benchmark's report further underscores the urgency, indicating a need for $40 billion in cathode materials production investments to bridge the gap between the current supply and anticipated demand by 2030.