Graphite electrode maker HEG Ltd announced on Tuesday (February 24) that its wholly owned subsidiary, TACC Ltd, has entered into a long-term partnership with INOX Air Products Private Ltd (INOXAP) for nitrogen supply. According to reports from CNBC TV18, this strategic alliance will establish a dedicated onsite nitrogen plant at TACC's upcoming greenfield manufacturing facility in Dewas, Madhya Pradesh, which will produce lithium-ion battery-grade graphite anode material. The collaboration secures a consistent, high-purity nitrogen supply that is vital for manufacturing high-quality graphite anode materials used in electric vehicle (EV) batteries and energy storage solutions, directly supporting TACC's ambitious entry into the burgeoning EV battery ecosystem.
As reported by CNBC TV18, INOXAP will establish the nitrogen plant on a Build, Own and Operate basis. The arrangement is specifically designed to ensure consistent, safe and high-purity nitrogen supply aligned with TACC's manufacturing requirements. The facility will support the production of advanced carbon materials critical to India's electric mobility and energy storage sectors. TACC Limited aims to produce 20,000 metric tonnes per annum of lithium-ion battery-grade graphite anode material at its Dewas facility, representing a substantial investment project that has secured funding from SBI.
This partnership positions HEG alongside other major Indian players actively investing in the high-growth synthetic graphite anode materials sector. According to recent market data, Graphite India is investing ₹4,330 crore in synthetic graphite anode materials, while Epsilon Advanced Materials is establishing a ₹4,000 crore synthetic graphite anode plant in India. All these companies are aiming to capture market share in the crucial EV battery supply chain, with the partnership enabling TACC to enhance process efficiency and maintain stringent product quality standards required for battery components.
According to CNBC TV18, Diganta Sarma, Head – Business Development & Strategy at INOX Air Products, emphasized that the partnership reflects strong alignment of purpose, sustainability and ambition. He stated that the long-term agreement reinforces INOXAP's expertise in enabling production of high-performance materials critical to India's growth in electric mobility, energy storage, and clean energy transition. Ankur Khaitan, Managing Director and CEO of TACC, highlighted that manufacturing battery-grade graphite demands precision, purity and reliability, with the partnership ensuring dependable high-purity nitrogen supply critical to achieving global standards at scale.
As reported by CNBC TV18, shares of HEG Ltd ended at ₹564.70, up by ₹10.05, or 1.81%, on the BSE following the announcement. The positive market response reflects investor confidence in the strategic partnership's potential to strengthen India's advanced materials ecosystem and support the nation's clean energy and electric mobility ambitions. The collaboration signals HEG's strategic commitment to expanding its footprint in the clean energy value chain through its subsidiary's entry into the high-growth battery anode materials sector.
