Anupam Rasayan India Ltd, a leading provider of custom synthesis and specialty chemicals, has signed a Letter of Intent (LOI) with Elementium Materials Inc., a U.S.-based Battery Electrolyte Company, for the supply of chemicals in an advanced electrolyte critical for electric vehicle (EV) batteries.

Anupam Rasayan 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 mn.

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.