EAM Completes Acquisition of LFP Cathode Technology Center in Germany, Plans for Commercial Scale Production for Global Supply Chain [Yahoo! Finance]
JOHNSON MATTHEY S/ADR (JMPLY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
MOOSBURG, Germany, February 02, 2024 BUSINESS WIRE )--Epsilon Advanced Materials (EAM) today finalized the acquisition of a lithium-ion phosphate (LFP) cathode active material technology center in Moosburg, Germany, making it the first global company capable of providing manufacturers with both cathode and anode materials for lithium-ion batteries. With the purchase, EAM is poised to make India the first country in Asia outside of China to manufacture LFP cathode materials. Approximately 70% of cathode materials, and 100% of LFP cathode, for lithium-ion batteries are currently produced in China. "This acquisition reaffirms our commitment to delivering cutting-edge solutions to the evolving EV battery market," said Vikram Handa, managing director of EAM. "The advanced technology center in Moosburg strategically positions us to lead the industry in cathode material manufacturing." Acquiring the cathode active material technology center from Johnson Matthey solidifies EAM's positi
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