Epsilon Advanced Materials Inc (EAM), the battery materials arm of Epsilon Group, has received a non-binding Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for potential debt support of up to $420 million. The proposed financing is intended for EAM’s upcoming synthetic graphite manufacturing plant in Leland, North Carolina, and falls under EXIM’s Make More in America initiative. The indicative structure includes a potential loan tenure of up to 20 years.
The planned facility is projected to produce 30,000 tons of synthetic graphite annually by 2027, with a second phase targeting 60,000 tons per year by 2030. Once operational, the plant will be capable of supplying enough battery-grade graphite for about one million electric vehicles in the U.S., supporting domestic battery makers and automotive OEMs.
Vikram Handa, Managing Director of EAM, emphasized that the LOI highlights the strategic need to establish a domestic supply chain for battery materials. He also pointed out that the Leland facility would not only bolster clean energy adoption but also bring long-term economic advantages, including local employment opportunities.
The company expects to submit its formal application to EXIM in 2025. While the LOI signals strong interest, it is not a commitment and remains subject to EXIM’s internal processes, including due diligence and credit assessment.
Founded in 2010, Epsilon Group is involved in the carbon and battery materials sector through subsidiaries like Epsilon Carbon and Epsilon Advanced Materials. Epsilon Carbon operates India’s first integrated carbon complex in Karnataka, while EAM, launched in 2018, produces anode and cathode materials for lithium-ion batteries with ongoing operations in India, the U.S., and Finland. The group is also actively entering the LFP-based cathode material segment to cater to the growing global demand for battery solutions.
Epsilon Advanced Materials is known for its expertise in materials science, offering advanced solutions such as semiconductor materials, energy storage technologies, and specialty coatings. With a commitment to research and development, the company aims to drive innovation and contribute to the growth of industries that require high-quality, specialized materials for next-generation applications.
