Epsilon Group acquires cathode technology centre in Germany

New Delhi: Battery materials manufacturer Epsilon Group announced on Wednesday that it is acquiring Johnson Matthey’s lithium-ion phosphate (LFP) cathode active material technology centre in Moosburg, Germany. Financial details of the agreement were not disclosed.

“Our advancement in anode research and manufacturing was a first step, and this acquisition underscores our commitment to serving our global clientele with sustainable and reliable material,” said Vikram Handa, managing director of Epsilon Group.

The company said the facility boasts best-in-class technical capabilities and a workforce with expertise in LFP chemistry, comprehensive product and process development capabilities, and a versatile customer qualification plant designed to verify new materials for large-scale production.

This acquisition will help Epsilon tap Europe’s battery-materials talent pool and cater to its global clients. Leveraging the capabilities of its existing infrastructure and the Moosburg facility, the company said, would catalyze its ambitious plan to cater to 100 GWH of demand.

The company had earlier announced a $1.1 billion investment for a 100,000-tonne anode battery materials manufacturing facility in Bellari, Karnataka, with subsequent expansions in Europe. It said it also has plans for a $650 million manufacturing facility in the US.

According to Fortune Business Insights, the global electric vehicle market is projected to soar to $1.5 trillion by 2030 from $380 billion in 2022, and cathode materials are pivotal to this growth. Another report, by Benchmark’s, said a need to invest $40 billion in cathode materials production to bridge the gap between the current supply and the demand anticipated by 2030.