LiPF6 salt joint venture

India’s Neogen Ionics has formed a joint venture with Morita Investment, a subsidiary of Morita Chemicals. The new entity, Neogen Morita New Materials (NML) will set up a manufacturing unit at Pakhajan, Gujarat, to make solid LiPF6 salt, a critical electrolyte ingredient for lithium-ion batteries. 

Investment amounts will be finalised after detailed engineering studies and funded proportionate to shareholding, but NIL will hold at least 80% of NML and will name four of the five directors. This is the first Indo-Japanese JV in the Li-ion materials space, aims to leverage Morita’s established technology in this field.