Neogen Ionics Limited (NIL), a wholly owned subsidiary of Neogen Chemicals Limited, has concluded its joint venture agreement with Morita Investment Limited (MIL), Japan, a wholly owned subsidiary of Morita Chemicals Industries Co. Limited, following the agreement executed on August 31, 2025.

The JV is designed to strategically combine the partners' manufacturing and technological expertise, leveraging synergies to capitalize on the rapidly expanding Lithium-Ion Battery market.

Both the parties will invest in Neogen Morita New Materials Limited (NML). NIL will hold an 80% majority stake in NML, while MIL will hold the remaining 20% by contributing $20 million. NML's primary mandate will be to produce, develop, and sell solid LiPF6 salt - a crucial ingredient for Lithium-Ion battery electrolytes, along with other related materials and services.

Marking one of the first Indo-Japan joint ventures in the Lithium-Ion Battery materials space, this collaboration addresses the global imperative for supply chain diversification from China. The JV leverages proven Japanese technology in India, establishing it as the sole non-FEOC compliant Electrolyte Salt plant in the country, thereby offering customers unmatched cost efficiency, rapid supply, and assured reliability.

Commenting on the development, 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."