Neogen Ionics partners with Japan's Morita for LiPF6 salt

Neogen Ionics Limited (NIL), a wholly owned subsidiary of Neogen Chemicals Ltd, has entered into a joint venture (JV) with Japan’s Morita Investment Limited (MIL), a subsidiary of Morita Chemicals Industries Co Ltd (MCL), to produce solid LiPF6 salt, a critical electrolyte ingredient for lithium-ion batteries. The new entity, Neogen Morita New Materials Ltd (NML), will set up its manufacturing unit at Pakhajan, Gujarat.

Under the agreement, NIL will hold a minimum 80 per cent stake in NML, while MIL will hold up to 20 per cent. Investment amounts will be finalised after detailed engineering studies and funded proportionate to shareholding.

NIL will nominate up to four directors, while MIL will nominate one, provided it retains at least a 10 per cent stake. The scope includes production, development, and sale of solid LiPF6 salt, along with other materials and services decided mutually, the company said in an NSE listing.

MCL, with over a century in chemicals and more than 30 years in lithium salt manufacturing, operates plants in Japan and China and has a strong presence in Europe and the US. NIL is engaged in producing electrolytes and lithium electrolyte salts in India, with facilities in Gujarat.

The partnership, among the first Indo-Japanese JVs in the lithium battery materials space, aims to leverage Morita’s proven technology and global networks to enhance NIL’s production reliability and accelerate international market access. The move positions NML to tap into rapidly growing demand for lithium-ion battery components.

ALCHEMPro News Desk (HU)