Anupam Rasayan India Ltd. (ARIL), a leading custom synthesis and specialty chemicals company, announces that it has signed a non-binding Letter of Intent (LOI) with BASQUEVOLT, S.A., a European developer of solid-state lithium batteries, headquartered in Miñano (Araba/Álava), Spain.

Under the LOI, the parties intend to explore the potential supply of a specialty chemical product over a period of up to 10 years for cumulative revenue of $300 million. The LOI is non-binding and preliminary. Any supply would be subject to the successful completion of product development and to the negotiation and signing of a definitive supply agreement.

Speaking about the signed LOI, Anand Desai, Managing Director of Anupam Rasayan, said: "This LOI reinforces our strategic focus on expanding in the electronic chemical domain, which we believe will be a key growth driver going forward. Our continued investments in R&D, process capabilities, and customer-centric innovation positions us well to capture emerging opportunities in this space.

“This development marks a significant step forward in the Company’s strategy to deepen its footprint in the high-growth electronic chemicals space, catering to advanced manufacturing and technology-driven industries. The engagement underscores the Company’s strong R&D capabilities, quality standards, and its ability to meet stringent customer requirements in specialized chemical formulations."