Neogen Chemicals’ Subsidiary Neogen Ionics Forms JV With Morita Chemicals

1 Sep 2025 , 12:50 PM

Neogen Chemicals Ltd. announced on Monday, September 1, that the board of its wholly owned subsidiary Neogen Ionics has approved a joint venture agreement (JVA) with Japan’s Morita Chemicals Industries Co. Ltd.

The partnership will combine the technological and manufacturing expertise of both companies to tap into the fast-growing lithium-ion battery business, the company said in its exchange filing. As part of the agreement, both sides will invest in Neogen Morita New Materials Ltd. (NML), a wholly owned subsidiary of Neogen Ionics.

• Neogen Ionics will maintain a minimum 80% stake.
• Morita Chemicals will hold up to 20%.

The newly formed NML will focus on:

• Producing and developing solid LiPF6 salt
• Manufacturing related products and services within the lithium-ion battery ecosystem.

Solid LiPF6 salt is a critical raw material for making electrolyte used in lithium-ion batteries, placing the JV directly in a high-demand supply chain. The JVA was executed on August 31, 2025, and marks Neogen’s latest strategic move into advanced energy materials.

In a separate financing step, Neogen’s board in July 2025 approved raising up to ₹200 crore via the issuance of non-convertible debentures (NCDs) on a private placement basis. The NCDs carry a 36-month tenure, with monthly interest payouts.

The twin moves fundraising and a JV with a global chemical major underscore Neogen Chemicals’ aggressive push into lithium-ion battery materials, a sector witnessing rising demand amid India’s and the world’s clean energy transition.

For feedback and suggestions, write to us at [e-mail]