26 July, 2024 16:09:23 IST 
Neogen Ionics Ltd., a wholly-owned subsidiary of Neogen Chemicals Ltd., and State Bank of India (SBI) have completed the documentation formalities for disbursing a Rs. 894-crore loan on July 20th, 2024 for Neogen's ongoing investment in battery chemicals greenfield project in Pakhajan, Dahej PCPIR, Gujarat.
Neogen currently operates one of India's first commercial-scale electrolyte production facility with a capacity of 2,000-mtpa, which can support India's current trial cell manufacturing lines as well as upcoming gigafactories up to 3 GWh.
The greenfield site, being set up with SBI's project loan, will add an additional 30,000-mtpa capacity, which can support up to 30-GWh of cell production in India, Neogen informed in a social media post.
In the first phase of the project, Neogen will manufacture 30,000-mtpa of electrolytes and 4,000-mtpa of electrolyte salts and additives. The electrolyte plant will be set up using manufacturing technology license from MUIS (a JV between Mitsubishi Chemical Corporation and UBE Corporation) while electrolyte salts will be based on Neogen's indigenous technology developed in-house.
The plant is expected to be operational in H2 of 2025. Neogen anticipates these electrolytes to meet the increasing demand from lithium-ion cell manufacturers in India and address the swiftly expanding international OEM demand for electrolyte salts and additives.
