Epsilon Advanced Materials, a refiner of synthetic graphite for electric vehicle batteries, is building its first US headquarters and manufacturing hub right here in North Carolina. They plan on spending $649.9 million on the sprawling new facility in Brunswick County and create at least 500 jobs, with an average salary of $52,264 (higher than the county’s current average of $46,464).
“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 EAM Founder Vikram Handa in a press release. “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.”
Originating from Mumbai, Epsilon’s cutting-edge graphite technology is crucial for fast-charging, durable, and safe lithium-ion batteries. This move positions them to tap into the surging demand for renewable energy storage.
This major investment is backed by a Job Development Investment Grant, which could reimburse the company up to $3.44 million over 12 years, based on job creation and investment targets. Plus, the project is projected to bolster the state’s economy by a whopping $1.3 billion!
Additionally, a portion of the grant will support rural infrastructure upgrades, benefiting communities across the state. This project is a collaborative effort, with partners including the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, and several other state agencies and organizations.
