Neogen Chemicals Ltd., a manufacturer of Bromine-based, and Lithium-based specialty chemicals, said it has signed an agreement with MU Ionic Solutions Corporation (MUIS), Japan, to acquire manufacturing technology licence for production of electrolytes in India.
MUIS is a joint-venture between Mitsubishi Chemical Corporation (MCC) and UBE Corporation, a group company of The Mitsubishi Chemicals Group.
The Mitsubishi Chemicals Group is one of the global leaders in electrolytes used in lithium-ion batteries with a track record of 30 years and has 5 electrolyte manufacturing plants located in Japan, the U.S., U.K. and China.
As per the terms of the agreement, Neogen will manufacture electrolytes at its manufacturing facility in India with a planned maximum installed capacity of up to 30,000 MT per annum. The plant to be set up in Gujarat would be commissioned in 2025. The amount to be invested has not been disclosed.
These electrolytes will be supplied by Neogen to meet the growing demand of lithium-ion cell manufacturers in India.
Harin Kanani, managing director, Neogen Chemicals said, “MUIS’s 3-decade long electrolyte manufacturing experience will be extremely beneficial for Neogen to build a robust global quality and safety standards approved electrolyte plant in India.”
“With this arrangement, we will be the first Indian company to have a proven global technology, to manufacture electrolytes at scale for lithium-ion batteries. This will allow us to further enhance confidence of Indian customers,” he said.
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