Anupam Rasayan's Strategic Leap into EV Battery Chemical Supply

Anupam Rasayan teams up with US-based Elementium Materials to supply specialty chemicals for electric vehicle batteries, starting fiscal 2026. The partnership anticipates a five-year deal with cumulative sales between USD 350 million and USD 450 million, vital for cheaper, high-performance EV batteries.

Specialty chemicals manufacturer Anupam Rasayan announced a significant business move on Friday, signing a letter of intent (LOI) with US company Elementium Materials Inc. The agreement pertains to the supply of essential chemicals for electric vehicle (EV) batteries.

As per the regulatory filing, Anupam Rasayan plans to initiate the supply from the end of fiscal 2026. Upon successful product development, the businesses aim to finalize a five-year supply agreement with potential cumulative sales between USD 350 million and USD 450 million.

This collaboration marks a pivotal step, particularly for Elementium, whose CEO Matthew Dawson emphasized the importance of building a diversified global supply chain through this partnership. Meanwhile, Anupam Rasayan's shares experienced a minor rise of 1.21% on the BSE, reflecting positive market sentiment.

(With inputs from agencies.)