Neogen Chemicals signs agreement with Japan-based MUIS to acquire manufacturing license for electrolytes in India
Apr 10, 2023
New Delhi [India], April 10 : Neogen Chemicals, a leading manufacturer of Bromine and Lithium-based specialty chemicals, on Monday said it signed an agreement with Japan-based MU Ionic Solutions Corporation (MUIS).
Neogen will have an installed capacity of upto 30,000 tonne per annum, helping meet the growing demand of lithium-ion cell manufacturers in India, according to the terms of the agreement filed by the company to stock exchanges.
Neogen will obtain the license from MUIS for "proprietary and confidential manufacturing technology" for making electrolyte solutions at its manufacturing facility in India.
MU Ionic Solutions (MUIS) is a joint venture between Mitsubishi Chemical Corporation (MCC) and UBE Corporation and is a group company of The Mitsubishi Chemical Group (the group) a Japanese conglomerate.
The group is one of the global leaders in electrolytes used in lithium-ion batteries with a strong track record of 30 years and has 5 electrolyte manufacturing plants located in Japan, the US, the UK and China.
"The group'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," said Harin Kanani, Managing Director at Neogen Chemicals.
