Epsilon Carbon inks Alba deal, boosts global expansion; aims for IPO in 2027

Epsilon Carbon, India’s biggest manufacturer of coal tar pitch (CTP), on November 2 signed a Memorandum of Understanding (MoU)  with Aluminium Bahrain or Alba to explore a long-term supply arrangement for liquid coal tar pitch, on the sidelines of Gateway Gulf 2025 event. It also announced a $20 million investment in Kingdom of Bahrain for a Liquid Coal Tar Pitch manufacturing facility to cater to growing demand from Middle East.

The company is looking at significantly enhancing its CTP production capacity to 500,000 tonnes by next to cater to growing demand from Middle East.

Coal tar pitch (CTP) is a crucial industrial material obtained from the thermal processing of coal tar which is a by-product of steel manufacturing. It’s used to manufacture the carbon anodes and cathodes required for the smelting of aluminium; and for manufacturing EV batteries material, that is, graphite anodes.

Epsilon Carbon has a manufacturing unit in Karnataka and Odisha. They have been expanding their battery material operations globally, including in the USA, Finland and Germany. "Looking at the scale of our expansion, we are hoping to go public by 2027-end," Vikram Handa, MD, Epsilon Carbon told Moneycontrol.