NEWS Investment firm takes over Entek
Twin-screw extruder group Entek has a new majority owner, I Squared Capital, which is investing in the company to support its manufacturing expansion in lithium-ion battery separators critical for batteries powering electric vehicles, energy storage systems and other high- growth technologies. Entek received a $1.3bn loan in
2024 from the US Department of Energy’s Advanced Technology Vehicles Manufacturing program. I Squared said its $800m investment complements that loan to fund construction of Entek’s facility in Terre Haute, Indiana, the first of its kind in the US producing wet-process lithium-ion battery separators. The facility, which will receive manufactur- ing and production tax credits, is expected to create approximately 763
construction jobs and 635 operations jobs in Terre Haute once operational. The facility will produce 1.4bn m²
of wet-process lithium-ion battery separators annually in its first two phases and is designed to expand to 2.1bn m². The project involves Brueckner Group as Entek’s partner in biaxial stretching equipment and Clayco as the EPC contractor. “With DOE support and rising demand in EVs, energy storage, and defence, Entek is uniquely positioned to deliver sustainable growth for our investors and the US economy,” said Gautam Bhandari, Managing Partner and Chief Investment Officer, I Squared Capital. Larry Keith, CEO of Entek, said:
“With I Squared’s capital, strategic expertise, and global network, we will expand the US’s manufacturing
footprint, create high-quality jobs, and meet surging demand for batteries across critical applications, from EVs and energy storage to military defence equipment and data centres.” Entek said that over the last four decades it has built a vertically integrated business model based on core capabilities in energy storage, advanced materials, and equipment manufacturing. Supported by Endeav- our Capital and Joshua Green Corp’s investment in 2019, its operations have expanded across eight countries. It says it is the only company to have expanded the application of ad- vanced materials to include all battery separator types, including lead acid, lithium, and other emerging energy storage technologies. �
https://entek.com �
www.isquaredcapital.com
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