Deals28 Feb 2025, 06:36 pm
Anupam Rasayan India Ltd. Signs LOI with Elementium Materials Inc. for Development and Supply of Advanced Solvent for EV Batteries
AI Summary
Anupam Rasayan India Ltd., a leading provider of custom synthesis and specialty chemicals, has signed a Letter of Intent (LOI) with Elementium Materials Inc., a U.S.-based Battery Electrolyte Company, for the supply of chemicals in an advanced electrolyte critical for electric vehicle (EV) batteries. The supply is expected to commence from the end of FY26, with cumulative sales ranging between $350 to $450 million over a 5-year period. The partnership aims to enhance battery performance, improve power output, and contribute to a more sustainable planet.
Key Highlights
- Anupam Rasayan has signed an LOI with Elementium Materials Inc. for the supply of advanced electrolyte chemicals for EV batteries.
- The supply is expected to commence from the end of FY26, with a potential sales value of $350 to $450 million over 5 years.
- The partnership aims to enhance battery performance, improve power output, and contribute to a more sustainable planet.
- The initial quantities can be supplied through existing manufacturing facilities, while a new plant may be required to achieve full potential.
- The deal aligns with Anupam Rasayan's strategy to foray into battery chemicals and directly work with OEMs.