Epsilon closes acquisition of German R&D center
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Mumbai: Domestic battery material manufacturer Epsilon Advanced Materials (EAM) 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 (R&D) 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 tonnes 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.
