Neogen Ionics and Morita Investment have formed a joint venture to manufacture Lithium-Ion battery electrolytes.

Neogen Ionics Limited, which is a subsidiary of Neogen Chemicals Ltd and Morita Investment Limited have entered into a joint partnership in order to form the Neogen Morita New Materials Limited. Neogen Ionics will be securing 80% of the new company, while Morita will be holding 20%, with a total investment mounting to a 20$ million investment. 

The new company will be focussing towards the production and development of solid LiPF6 salt and other related materials used in the Lithium-Ion battery electrolytes. It will be operating in India by integrating Morita’s technology and functioning as a non-FEOC compliant electrolyte salt producer. 

The joint venture will be promoting in-house production specifically under the Atmanirbhar Bharat initiative and will be reducing the direct dependence on imports for Lithium-Ion battery materials. 

The Managing Director of Neogen Chemicals Limited, Dr Harin Kanani expressed his views on this and said, “This strategic alliance will be accelerating India’s energy sector by striking a perfect balance between our robust manufacturing capabilities and Morita Group’s globally powered LiPF6 technology which is around three decades old, we are also doing constant innovations in order to ensure a capitalized growth in the Lithium-Ion Battery segment. 

This partnership will be revolutionary leading to enhance the efficiency, increased cost effectiveness and increased access to the international markets.