BOLIVIA, N.C. (WNCN) — Epsilon Advanced Materials announced Thursday that it plans to build a $650 million graphite anode manufacturing facility in Brunswick County.

“We’re proud to have North Carolina at the focal point of our U.S. manufacturing strategy. With its favorable geographical location, business supportive policies and availability of a skilled talent pool, we are confident that the investment in the state is a major step towards creating sustainable energy transportation alternatives,” said EAM Managing Director Vikram Handa.

Gov. Roy Cooper was on hand for the company’s announcement at Brunswick County Community College in Bolivia.

Cooper said the state welcomes EAM and the development of its new 1.5 million- square-foot facility, which is expected to create approximately 500 new jobs for the Greater Wilmington area, according to a company news release.

“North Carolina continues to lead the way in the transition to a clean energy economy by attracting good-paying jobs from great companies like Epsilon that make our state stronger and healthier,” said Cooper. “This historic investment will bring 500 clean energy jobs to Brunswick County, helping both our economy and our environment.”

The facility by India’s leading battery materials company is the first and largest Indian investment in the U.S. electric vehicle battery industry, the company said.

The company plans to break ground in 2024 and begin manufacturing in 2026, reaching full capacity by 2031.

When operational, the facility will utilize green technologies to produce high-capacity anode materials for EV batteries, according to the company.

Why Brunswick County?

EAM said it chose Brunswick County because of strategic advantages, such as proximity to the Wilmington port, automotive suppliers, Southeastern vehicle manufacturing facilities, and the local community college.

“The location also streamlines logistics, reduces costs and provides access to the growing electric vehicle market. The skilled local workforce, with support from the community college, and potential economic incentives enhance the business environment, while geographic features offer resilience and sustainability,” according to EAM.