Neogen Ionics, a subsidiary of Neogen Chemicals, has partnered with Morita Investment, part of Japan's Morita Chemicals Industries, to form a joint venture (JV) called Neogen Morita New Materials.

This venture aims to strengthen their position in the lithium-ion battery market, focusing on the development and production of key materials. The JV will prioritise manufacturing solid LiPF6 salt, a crucial component of battery electrolytes. Neogen holds an 80 percent stake in the joint venture, while Morita contributes USD 20 million for a 20 percent share.

Morita brings over 30 years of experience in lithium salt production, with facilities in China, Europe, and the U.S. Meanwhile, Neogen manufactures various battery materials, including electrolytes and lithium salts, and plans significant production expansion by FY27. The JV also plans to build a new facility in Gujarat to serve both Indian and global OEMs.