Neogen Chemicals Limited has informed the Exchange regarding 'Execution of Joint Venture Agreement by and between Neogen Ionics Limited and Morita Investment Limited'.
NEOGEN · price
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Neogen Chemicals' wholly owned subsidiary Neogen Ionics Limited (NIL) has signed a Joint Venture Agreement with Morita Investment Limited (MIL), the investment arm of Japan's 100+ year old Morita Chemicals Industries Co. Limited. The JV will operate through a new entity called Neogen Morita New Materials Limited (NML), focused on producing and selling solid LiPF6 salt — a key electrolyte ingredient for Lithium-Ion Batteries — with a proposed manufacturing facility at Pakhajan, Gujarat. Under the JV, NIL will hold a minimum of 80% in NML while MIL will hold up to 20%, with the actual investment amounts to be finalised after a detailed engineering exercise. The company highlights this as one of the first India-Japan JVs in the LIB battery materials space, giving NIL access to Morita's three decades of globally proven LiPF6 technology and faster entry into international markets.
This is a strategic positive for Neogen Chemicals shareholders as it brings in a globally established Japanese technology partner (Morita) to strengthen its lithium-ion battery materials business, potentially boosting future revenue and margins. Investors should watch for updates on the size of investments and progress of the Gujarat manufacturing facility, as these will determine the actual financial impact.