Epsilon Completes Acquisition Of LFP Cathode Technology Centre In Germany
Domestic battery material manufacturer Epsilon Advanced Materials on Friday said it has completed the acquisition of Johnson Matthey's LFP cathode technology centre in Germany.
Domestic battery material manufacturer Epsilon Advanced Materials on Friday said it has completed the acquisition of Johnson Matthey's LFP cathode technology centre in Germany.
The city-based company in October last year announced signing a pact to acquire the Moosburg-located Research and Development Centre to tap into the European battery materials' talent pool and cater to its global clientele.
The acquisition makes Epsilon the first global company capable of providing manufacturers with cathode and anode materials for lithium-ion batteries, which is poised to make India the first country in Asia outside of China to manufacture LFP (Lithium-ion Phosphate) cathode materials, Epsilon said.
The company also said it is scheduled to break ground on its facility in India this year to build a large-scale customer qualification plant in 2025, which will scale up to 1,00,000 tonne by 2030.
"This acquisition reaffirms our commitment to delivering solutions to the evolving EV battery market. The advanced technology centre in Moosburg strategically positions us to lead the industry in cathode material manufacturing," said Vikram Handa, Managing Director at EAM.
The move will also solidify EAM's position as a global EV battery materials provider, with the potential to reshape the landscape of electric mobility by reducing the battery market's reliance on China, the company said, adding that approximately 70% of cathode materials, and 100% of LFP cathode, for lithium-ion batteries, are currently produced in China.
Battery manufacturers are increasingly transitioning to LFP cathode, which has a longer life span, offers improved discharge and charge efficiency, provides better performance in higher temperatures and is less expensive than other cathode materials, such as nickel and cobalt. It is also maintenance-free, extremely safe and lightweight, according to the company.
Epsilon Advanced Materials earlier announced a Rs 9,000 crore investment to set up an anode battery materials manufacturing facility in Bellari (Karnataka).
Besides, EAM plans to build a $650 million graphite anode material manufacturing facility in Brunswick County in North Carolina in the U.S. It is also investing Euro 600 million to develop a graphite processing facility in Vaasa, Finland, as per the statement.
