The company will leverage its cutting-edge research and development expertise in chemical production to create this high-demand, essential product, with supply expected to commence from end of FY26.

Upon successful product development, the companies will negotiate a supply agreement for 5 years with cumulative sales ranging between $350 to $450 million. Initial quantities can be supplied through existing manufacturing facilities, while to achieve its full potential, the company would be required to set up a new plant.

Anand Desai, managing director of Anupam Rasayan, 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.

Dr. Matthew Dawson, CEO of Elementium Materials, said, “This Letter of Intent with Anupam Rasayan is a key step in Elementium’s strategy to build a diversified and resilient global supply chain. Working with world-leading chemical suppliers like Anupam Rasayan enables us to rapidly scale production of our next-generation electrolyte platform, driving the future of ultra-high performance batteries and sustainable energy solutions.”

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals in India. Its business verticals are life science-related specialty chemicals, comprising products related to agrochemicals, personal care and pharmaceuticals, and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.

The company ‘s consolidated net profit surged 108.33% to Rs 54.21 crore on a 32.02% jump in revenue from operations to Rs 390.14 crore in Q3 FY25 over Q3 FY24.