Neogen Ionics and Morita Investment Form Joint Venture to Produce Lithium-Ion Battery Electrolytes

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Neogen Ionics Limited, a wholly owned subsidiary of Neogen Chemicals Limited, and Morita Investment Limited, a wholly owned subsidiary of Morita Chemicals Industries Co. Limited, have finalized a joint venture to establish Neogen Morita New Materials Limited. Neogen Ionics will hold 80 percent of the new company, while Morita will hold 20 percent through a $20 million investment.

The new company will produce, develop, and sell solid LiPF6 salt and other related materials used in Lithium-Ion battery electrolytes. It will operate in India using Morita’s technology and will function as a non-FEOC compliant electrolyte salt producer. The joint venture supports domestic production under the Aatmanirbhar Bharat initiative and reduces dependence on imports for Lithium-Ion battery materials.

Dr. Harin Kanani, Managing Director, Neogen Chemicals Limited, said, “This landmark JV represents a pivotal moment for Neogen Chemicals and our role in accelerating India’s energy transition. By integrating our robust manufacturing capabilities with the Morita Group’s globally validated LiPF6 technology, a legacy spanning nearly three decades, we are strategically positioned to capitalize on the rapid growth in the Lithium-Ion Battery market. Our majority stake in NML underscores our commitment to establishing a dominant position within the electrolyte salt sector. This collaboration is a game-changer, promising enhanced efficiency, significant cost competitiveness, and accelerated access to international markets.”

Also Read: LIB electrolyte manufacturing in India | Understanding the supply chain