Epsilon Advanced Materials & C4V sign MOU to strengthen India’s domestic supply chain
Epsilon Advanced Materials & C4V sign MOU to strengthen India’s domestic supply chain
MUMBAI, November 15, 2021: Epsilon Advanced Materials (EAMPL), a diversified battery anode materials company, is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Charge CCCV LLC (C4V), for the development and qualification of large-scale supply of synthetic anode material to support C4V’s domestic supply chain vision to establish Gigafactory in India. This MoU will enable C4V to secure an additional, India based, anode material partner with the right level of technology, performance and production capabilities in support of their soon to be submitted application for the Indian Government’s PLI-ACC scheme.
As part of the agreement, both Epsilon and C4V will jointly develop tailored, high-end, synthetic anode materials suited for applications in C4V’s lithium-ion cells and Giga scale production lines. The joint effort will aim to exploit the synergies of both companies’ innovative product design, to enhance performance and safety of Li-Ion battery cells. The collaboration is intended to result in a long-term, volume supply agreement for battery materials of C4V’s battery cells that target significant, India based, growth markets including automotive and industrial applications.
Commenting on the MOU with C4V, Mr. Vikram Handa, Managing Director of Epsilon Advanced Materials Private Limited said, “We aim to lead the global electric vehicle market by combining our raw material technology and C4V's innovative battery manufacturing technology for varied industrial and automotive applications. This partnership will give us an opportunity to develop anode material supply ecosystem in India for global supply. This move will not only support our PM’s vision of Aatmanirbhar Bharat but also put India on global map as a battery material manufacturing hub. As an organisation, who is committed to a sustainable future, we aim to manufacture products with low carbon footprint. ‘’
According to India based, Kuldeep Gupta, VP of Strategic Alliances at C4V, "We are very pleased to have signed a MoU with Epsilon Advanced Materials Private Limited. This MoU is part of C4V’s acceleration plan as it fulfils its role as a future supplier of the battery technology to its partners in India. In EAMPL, we have found a partner who shares our sustainability values and we are looking forward to an exciting future ahead.”
About Epsilon Advanced Materials: Epsilon Advanced Materials was established in 2018 to mark its entry into Lithium-Ion Battery space. Its vision is to develop and manufacture innovative, high performance and quality carbon products for anode components of lithium-ion Batteries (LIB). Currently they have a small commercial capacity of 2500 tons per annum for anode precursor material (EMC series) and a pilot facility for coke powder (EMP series) and graphite anodes (EMG series). Epsilon Advanced Materials is a subsidiary of Epsilon Carbon Private Limited, a leading manufacturer of coal tar derivatives and India’s only backward-integrated company with a dedicated source of raw materials. Epsilon Advanced Materials have ambitious plans to grow its capacities and become a full-fledged anode maker in the global LIB supply chain.
About C4V: C4V is a lithium-ion battery technology company possessing critical insight related to optimum performance of lithium-ion batteries as well as Gigafactory designs. C4V’s discoveries have been fruitful in vastly extending battery life, safety and charge performance, however more important is the Gigafactory offering that allows emerging countries to establish their own robust and future proofed manufacturing ecosystem. C4V’s key technology resides in its molecules that can be tailored to produce semi solid and fully solid-state battery cells through its highly qualified supply chain. C4V works together with industry leading raw material suppliers as well as equipment supply chain to bring to market fully optimized batteries possessing key advantages providing the ultimate “best in class” performance for various applications as well as end to end manufacturing solutions at Gigawatt Hour production scale. Through its unique business model C4V is currently involved in two Gigafactory projects and bringing products to market through its affiliates; iM3NY (New York, USA) and iM3TVS (Townsville Australia) in association with its strategic partner and shareholder Magnis Energy Technologies. iM3NY has been evolving as one of the largest and first home grown Gigafactory in the US that is will be producing C4V’s no Cobalt, no Nickel, non LFP cells from its first plant in Endicott New York in early 2022.
