Anupam Rasayan signs pact with US firm to supply EV battery chemicals, stock closes in red

Shares of Anupam Rasayan were trading at their 52-week low of ₹601 on February 28, 2025, on the National Stock Exchange (NSE). However, following the announcement, the stock was trading in the positive territory.

Anupam Pasayan closed in the red at ₹621.35, down 2.77% on the NSE on Friday.

The speciality chemical company said that it will leverage its “cutting-edge research and development expertise in chemical production” to create the advanced solvent used in EV batteries, with supply expected to commence from the end of FY26

Upon successful product development, the two companies will negotiate a five-year supply agreement with cumulative sales ranging from $350 million to $450 million.

While the initial quantities would be supplied via existing manufacturing facilities, it will need to set up a new plant to achieve its full potential, the chemical company said.

“This LOI with Elementium Materials aligns with our strategy to foray into battery chemicals and directly work with OEMs. This product will play a crucial role in enabling our customer to achieve its mission of manufacturing low-cost and high-performance EV batteries,” Anand Desai, Managing Director of Anupam Rasayan said.

“By integrating our expertise in chemical production with the vision for affordable clean energy, we are addressing the cost and performance barriers associated with EV adoption while contributing to a more sustainable planet,” Desai commented.

Elementium Materials CEO Matthew Dawson said the partnership was "a key step in Elementium's strategy to build a diversified and resilient global supply chain".

About Anupam Rasayan

Anupam Rasayan India is engaged in custom synthesis and manufacturing of speciality chemicals in India.

The chemical major has a total market capitalisation of ₹6,830.58 crore as of February 28, 2025, on the NSE.

About Elemntum Materials

ELementium Materials is a US-based Battery Electrolyte Company and a global leader in advanced materials for energy storage. It focuses on the development and commercialisation of technologies that power sustainable energy solutions.