Neogen Ionics Limited (NIL), a wholly-owned subsidiary of Neogen Chemicals Limited, has concluded its joint venture agreement with Morita Investment Limited (MIL), Japan, following the execution of definitive agreements on August 31, 2025. The partnership marks a significant milestone in India’s fast-growing lithium-ion battery materials ecosystem.
The joint venture company, Neogen Morita New Materials Limited (NML), has been set up to manufacture, develop and commercialize solid lithium hexafluorophosphate (LiPF₆) — a critical input used in lithium-ion battery electrolytes — along with other related materials and services. NIL will hold an 80% majority stake in NML, while MIL, a wholly owned subsidiary of Morita Chemicals Industries Co. Limited, will hold the remaining 20% through an investment of USD 20 million.
The collaboration brings together Neogen’s manufacturing scale and execution capabilities in India with Morita Group’s globally proven technology and over three decades of expertise in electrolyte salt manufacturing. The JV is among the first Indo-Japan partnerships in the lithium-ion battery materials space and is aimed at supporting global efforts to diversify supply chains away from China.
NML is positioned as India’s only non-FEOC-compliant electrolyte salt (solid LiPF₆) manufacturing facility, offering customers advantages such as cost efficiency, shorter supply timelines and enhanced supply reliability.
Through the partnership, NIL will gain access to Morita Group’s 30 years of validated technology, helping improve the reliability and efficiency of its existing electrolyte salt operations and accelerating approvals with international customers.
Commenting on the development, Dr. Harin Kanani, Managing Director, Neogen Chemicals Limited, said the joint venture represents a pivotal step for the company amid India’s energy transition. “By combining our robust manufacturing capabilities with Morita Group’s globally validated LiPF₆ technology, we are strategically positioned to capitalize on the rapid growth in the lithium-ion battery market. Our majority stake in NML reflects our commitment to building leadership in the electrolyte salt segment and achieving significant cost competitiveness and faster access to global markets,” he said.
Morita Chemicals Industries Co. Limited is a more than 100-year-old Japanese chemical company and a global leader in electrolyte salt manufacturing for over three decades. The group operates across 31 countries and works closely with leading global battery manufacturers. In addition to its facilities in Japan, Morita operates electrolyte salt plants in China and has a presence in Europe and the United States.
Neogen Ionics Limited focuses on the manufacture of lithium-ion battery materials, including electrolytes and lithium electrolyte salts, as well as other specialty organic and inorganic chemicals. The company operates manufacturing facilities at Pakhajan and Dahej SEZ in Gujarat, with its head office located in Thane, Maharashtra.