Vedanta Limited announced a $500 million investment in AvanStrate (ASI), its group company specializing in display glass manufacturing. The investment aims to support research and development, expand manufacturing, and enhance ASI’s product offerings to meet global demand for advanced display glass products, according to a press release issued by Vedanta.
ASI operates research and production facilities across Taiwan, South Korea, and Japan, focusing on next-generation glass technologies for advanced packaging and applications in sectors such as semiconductors, biotechnology, and automotive displays. The company is reportedly exploring potential partnerships to advance its technology and market offerings.
Earlier this year, Vedanta acquired a 98% stake in AvanStrate, a move intended to integrate the company into Vedanta’s broader portfolio of businesses across minerals, energy, and technology sectors. Vedanta’s stated objectives include continued innovation in automation, environmental sustainability, and energy efficiency, positioning the group to address evolving global market demands.
The global specialty glass market, estimated at $42 billion, is projected to grow to $60 billion by 2030. ASI aims to contribute to this growth with its expanded production and technological capabilities.
In a statement, Akarsh Hebbar, AvanStrate’s Global Managing Director, expressed confidence in ASI’s R&D and engineering teams, emphasizing the potential for ASI to deliver new solutions within the advanced glass sector. Additionally, ASI recently introduced its Super Green SaiSei product, a high-recycle-rate display glass aimed at the high-performance display market.
Charlie Lee, CEO of AvanStrate, highlighted the benefits of Vedanta’s support, stating that ASI is positioned to expand its R&D and production to address growing market demand for high-performance materials.