Epsilon acquires Johnson Matthey’s LFP cathode tech center
Battery material manufacturer Epsilon on Wednesday signed a deal to acquire British chemical company, Johnson Matthey's LFP (lithium, iron, and phosphate) cathode technology center in Germany.
The financial details of the deal are yet to be disclosed. However, the latest acquisition will support Epsilon's ambitious plans to eventually cater to 100GWh of demand, and enable it to foray into markets with a proven high-performance cathode active material produced at scale, the company said]. The move will help Epsilon to reduce technological development and scale-up timeframe significantly.
"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 German facility offers technical capabilities and a workforce with expertise in LFP battery chemistry, comprehensive product and process development capabilities, and a versatile customer qualification plant designed to verify new materials for large-scale production, the company added.
Further, through the strategic location of its Moosburg (Germany) research and development (R&D) center, Epsilon is looking to tap into the European battery materials' talent pool and cater to its global clientele.
In alignment with its vision, earlier in June, Epsilon announced its plan to invest $650 million for establishing a 50,000 TPA synthetic graphite anode manufacturing facility in the US.
Epsilon also announced a $1.1 billion investment in a 100,000-tonne anode battery materials manufacturing facility in Bellari, in the Southern Indian state of Karnataka, with subsequent expansions in Europe.