Epsilon Carbon, a leading producer of coal tar pitch, announced on Sunday that it has entered into a $20-million memorandum of understanding with Aluminium Bahrain (Alba) to investigate a long-term supply of liquid coal tar pitch to the Middle East.

Epsilon Carbon Managing Director Vikram Handa mentioned that the company aims to increase its Coal Tar Pitch (CTP) production capacity to 300,000 tonnes by next year to meet the rising demand from the Middle East.
CTP is utilized to produce carbon anodes and cathodes for aluminum smelting and electric vehicle batteries.

"We aim to export increasingly and wanted to seize the chance to establish a local supply chain in Bahrain.
Around 250,000 tonnes of pitch are used annually among the smelters in Bahrain, Qatar, and Saudi Arabia. The majority of it originates from us in China, Japan, and India. Our facility will serve as a melter, as we will ship pitch from India to Bahrain," Handa stated.

He further stated that partnering with the aluminium smelter Alba is a crucial advancement for sustainable industrial development.

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Handa stated that by 2027, our coal tar distillation capacity will hit 750,000 tonnes, and with a $20 million investment in Bahrain, we intend to enhance regional cooperation and supply chain stability.

Epsilon Carbon operates production facilities in Karnataka, Chhattisgarh, and Odisha. It is further broadening battery material activities worldwide, encompassing the US, Finland, and Germany.

Epsilon seeks to increase the CTP production capability to 3,00,000 tonnes by next year, up from the current 1,80,000 tonnes.

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Handa mentioned that in Odisha, a Rs 10,000 crore investment has been announced, while in Karnataka, the investment is Rs 500 crore.

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He added that the firm’s swift growth and international expansion have prepared it for its next major step - launching an IPO by 2027.