Epsilon Advanced Materials & C4V sign MOU to strengthen India’s domestic supply chain
MUMBAI: 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.”