Neogen Ionics Limited, a wholly owned subsidiary of Neogen Chemicals Limited, finalized its joint venture agreement with Morita Investment Limited of Japan, a subsidiary of Morita Chemicals Industries Co. Ltd. This follows the initial agreement signed on August 31, 2025. The partnership combines Neogen’s manufacturing strength with Morita’s advanced technology. It aims to capitalize on the rapidly expanding Lithium-Ion Battery (LiB) market.
Joint Venture Structure and Investment Plan
Both partners will invest in the newly formed entity, Neogen Morita New Materials Limited (NML). NIL will hold an 80% majority stake, while MIL will hold 20%, contributing $20 million to the venture. NML will focus on producing, developing, and selling solid LiPF6 salt, a critical component for Lithium-Ion battery electrolytes. The company will also offer other related materials and services essential for the energy storage ecosystem.
Strengthening Global Supply Chain Diversification
This Indo-Japan JV stands out as one of the first collaborations in India’s LiB materials sector. It addresses the global push to diversify supply chains away from China and positions the JV as the only non-FEOC compliant electrolyte salt plant in India. The JV integrates Japan’s proven technology with India’s manufacturing ecosystem. It offers customers unmatched cost efficiency, faster supply, and high reliability.
Boosting India’s Aatmanirbhar Bharat Mission
The JV strongly supports the Aatmanirbhar Bharat initiative by increasing domestic value addition and enabling major import substitution in battery materials. NIL will gain from the Morita Group’s 30 years of validated LiPF6 technology, improving the reliability and efficiency of its current electrolyte salt production. The collaboration will also accelerate NIL’s access to international markets and global customer approvals.
Leadership Perspective on the Strategic Milestone
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.”
A Strategic Leap for India’s Battery Ecosystem
Alchempro.com reports that Neogen and Morita will strengthen India’s position in the global battery materials value chain. Their combined expertise will drive innovation, cut import dependency, and accelerate the country’s clean energy transition.
