Diversified battery anode materials company Epsilon Advanced Materials (EAM) on Thursday announced that it has entered into a Memorandum of Understanding (MoU) with Charge CCCV LLC (C4V) for the development and qualification of a 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 explore the synergies of both companies’ innovative product designs to enhance the 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.
Vikram Handa, Managing Director of Epsilon Advanced Materials, said, “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 the global map as a battery material manufacturing hub. As an organisation, who is committed to a sustainable future, we aim to manufacture products with a low carbon footprint. ‘’
Kuldeep Gupta, VP, Strategic Alliances, C4V, said, '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.”