Epsilon Advanced Materials, Inc. (EAM) will invest $649.9 million to build its first U.S. manufacturing facility in Brunswick County, North Carolina. The India-based provider of synthetic graphite used in electric vehicle (EV) batteries will create 500 jobs at the Mid-Atlantic Rail Industrial Park.
“Having an environmentally friendly world-class facility in North Carolina will allow EAM to provide synthetic and natural graphite anodes to the growing EV battery industry faster, more reliably and at a competitive cost.”
— Vikram Handa,
Founder and Managing Director, EAM
“This facility is the largest Indian investment in the U.S. electric vehicle battery industry and we’re proud to have North Carolina as the centerpiece of our U.S. manufacturing strategy,” said Vikram Handa, EAM Founder and Managing Director. “Having an environmentally friendly world-class facility in North Carolina will allow EAM to provide synthetic and natural graphite anodes to the growing EV battery industry faster, more reliably and at a competitive cost.”
A subsidiary of Mumbai-based Epsilon Carbon Private Limited, EAM manufactures innovative, high-performance graphite used for anode components in lithium-ion batteries.
“North Carolina continues to lead the way in the transition to a clean energy economy by attracting good-paying jobs from great companies like Epsilon that make our state stronger and healthier,” said Governor Roy Cooper. “This historic investment will bring 500 clean energy jobs to Brunswick County, helping both our economy and our environment.
The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.
Epsilon Advanced Materials’ project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. The JDIG agreement authorizes the potential reimbursement to the company of up to $3.4 million, spread over 12 years.
Epsilon’s site in Brunswick County, classified by the state’s economic tier system as Tier 3, calls for moving $1.14 million into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business.
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“The importance of a strong, well-trained workforce cannot be underestimated, and I’m pleased the leaders at Epsilon Advanced Materials recognize North Carolina’s commitment to train and develop our workers,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Combined with the state’s outstanding transportation networks and collaborative business environment, North Carolina’s winning formula has come through once again.”
The North Carolina Department of Commerce worked with the Economic Development Partnership of North Carolina to attract this project. The North Carolina General Assembly, North Carolina Community College System, the North Carolina Ports Authority, North Carolina Department of Transportation and Rail Division, the North Carolina Railroad Company, the GoldenLEAF Foundation, North Carolina’s Southeast, CSX, Duke Energy, Brunswick County, and Brunswick Business & Industry Development also supported the project.