By: ICN Bureau
Last updated : September 01, 2025 5:22 pm
This is one of the first JV between Indian and Japanese company in LIB battery material space
Neogen Ionics Limited (NIL), a of wholly owned subsidiary Neogen Chemicals Limited has has entered into a Joint Venture Agreement (JVA) with Morita Investment Limited (MIL), a subsidiary of Japan-based Morita Chemical Industries Co. Ltd., to jointly participate in the fast-growing lithium-ion battery materials space. This is one of the first JV between Indian and Japanese company in LIB battery material space.
Under the agreement, both parties will invest in Neogen Morita New Materials Limited (NML), currently a wholly owned domestic subsidiary of NIL, which will be engaged in the production, development, and sale of solid LiPF6 salt, a key electrolyte material for lithium-ion batteries.
As per the JVA, NIL will hold a minimum of 80%, while MIL will hold up to 20% of NML’s share capital. The amount of investment will be determined after the detailed engineering exercise and will be invested by NIL and MIL in the ratio of their shareholding.
MIL is a wholly owned subsidiary of MCL which is a 100+ year old Japanese chemicals company and is a leading player in lithium salt manufacturing globally for more than 30 years. It has presence across 31 nations globally and works in close cooperation with global battery manufacturers. In addition to its plants in Japan, it has 2 plants for LiPF6 in China and has presence in Europe and USA.
The manufacturing unit for this JV will be set up in Pakhajan, Gujarat, and will support India’s growing push for clean energy solutions.