Epsilon Advanced Materials (EAM), India’s leading battery materials company has announced a $650 million investment in Brunswick County, North Carolina.
The 1.5 million square foot facility which will break ground in 2024, boosts hiring approximately 500 workers across the Greater Wilmington Area. The facility will produce graphite anode which is used in the production of electric vehicle batteries. Governor Roy Cooper who made the announcement in Brunswick County noted EAM’s jobs will offer an average salary of $52,000 a year.
According to EAM, establishing a manufacturing plant in Brunswick County offers strategic advantages, such as proximity to the Wilmington port, automotive suppliers, southeastern vehicle manufacturing facilities and the local community college.
According to Vickram Handa, managing director of EAM, the company looked at more than 100 locations in the United States before they finalized their deal in Brunswick County.
“As one of the top 10 fastest-growing counties in the country and the fastest-growing in North Carolina, Brunswick County has been tactically pursuing opportunities like this one to keep up with our momentum while providing strong, diverse employment opportunities for our residents,” said Randy Thompson, chairman of the Brunswick County Board of Commissioners.
A portion of funding for the new facility will come from a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. EAM could be eligible for up to $3.4 million in tax revenue reimbursements over the next 12 years.
Cooper used the event in Brunswick County to continue his push of making North Carolina a “global epicenter” of clean energy.
“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 Cooper. “This historic investment will bring 500 clean energy jobs to Brunswick County, helping both our economy and our environment.”
U.S. Rep. David Rouzer, R-NC7 said of the news, “I’m excited to welcome Epsilon Advanced Materials to Brunswick County, which will play a pivotal role in sustaining and expanding a resilient domestic supply chain for the automotive manufacturing industry. This announcement speaks volumes about Southeastern North Carolina’s talented workforce and business-friendly environment that so many have worked hard to foster and enhance.”
EAM has projected the facility to be operational by 2026 and at full capacity generating 50,000 tons of graphite by 2031.