Vedanta Group Plans ~$500 million Investment in AvanStrate Inc. to Drive Innovation in High-Tech Display Glass Products

SINGAPORE / MUMBAI, INDIA - Media OutReach Newswire - 11 November 2024 - Vedanta Limited is planning to invest close to $500 million in its group company, AvanStrate Inc. (ASI), a leading global display glass manufacturer that is now fully managed by Vedanta Limited. This strategic investment aims to drive innovation and expansion within ASI, strengthening its focus on R&D, as well as manufacturing capabilities and product offerings to cater to the growing global demand for advanced display glass solutions.

With extensive operations and R&D capabilities across Taiwan, South Korea and Japan, ASI aims to accelerate the development of next-generation glass products designed for advanced packaging and potential applications in the semiconductor, biotechnology, automotive displays, and other high-growth sectors. Additionally, ASI is exploring collaborative partnerships to accelerate its mission of developing technological advancement and enhanced market offerings.

Akarsh Hebbar, Global Managing Director of AvanStrate Inc., said, "This strategic investment from the Vedanta Group is reflective of our clear and definitive shift in focus toward significant growth-oriented projects. We are confident that ASI's cutting-edge R&D capabilities and world-class team of engineers are well placed to deliver a stream of future-ready solutions to our customers and partners propelling the company onto a path of positive industry disruption. ASI will soon take its place as one of the leading players in the advanced glass technology and product innovation space, globally."

Vedanta secured a 98% stake in ASI earlier this year. This move is in line with Vedanta's commitment to expanding its high-tech offerings, incorporating AvanStrate Inc. alongside Vedanta's portfolio of businesses across the critical and future minerals, energy, and technology space. Vedanta Group will continuously explore innovation opportunities across automation, ESG, and sustainable energy to enhance the group's technological capabilities and support the demands of a dynamic global market.

Charlie Lee, CEO, AvanStrate Inc., added, "The expertise and support from Vedanta places us in a strong position to expand our R&D, scale up production, and meet evolving market demands. As ASI advances into new market segments, meeting the demand for high-performance materials, we are set to enhance our leadership in the display glass sector and beyond, with a clear focus on sustainability and long-term growth.The recently launched new Super Green SaiSei high recycle rate display glass product is a perfect example. The product is a breakthrough in the industry that leads the market with no competition yet to match its high-tech quality."

The global market for specialty glass applications is estimated to be $42 billion and is projected to reach ~$60 billion by 2030. AvanStrate, with its advanced manufacturing capabilities and strategic partnerships, is well-positioned to meet these demands and contribute significantly to the global supply chain.

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