NEOGEN IONICS LIMITED

Neogen Ionics Limited, is promoted by and is wholly owned subsidiary of Neogen Chemicals Limited with 100% Equity stake held by Neogen Chemicals Limited. It was incorporated on March 29, 2023, to carry out the Battery Chemicals Business addressing the growth opportunities in Energy Storage such as Lithium- Ion Battery material space and other future energy storage chemistries. The main objects of Neogen Ionics Limited is to manufacture Lithium-Ion battery materials with an initial plan of manufacturing electrolytes and Lithium salts needed for electrolytes.

In pursuit of its future expansion strategy and as an integral step in establishing a greenfield project, Neogen Ionics Limited, a wholly owned subsidiary of Neogen Chemicals Limited (NSE Code: Neogen and BSE Code: 542665), today announced completion of land acquisition totaling approximately 65 acres in Pakhajan, Dahej PCPIR, Gujarat. Dedicated for battery materials and new future business opportunities, Neogen will set up the plant on this greenfield site to manufacture 30,000 MT of electrolytes and 4,000 MT of electrolyte salts and additives in the first phase. The electrolyte plant will be set up using Manufacturing Technology license from MUIS (a JV between Mitsubishi Chemical Corporation (MCC) and UBE Corporation and a group company of The Mitsubishi Chemical Group, a Japanese conglomerate) while electrolyte salts will be based on Neogen’s indigenous technology developed in-house utilizing its 35 years of experience in manufacturing Lithium Salts.

For Neogen Ionics, 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.

BuLi CHEMICALS INDIA PRIVATE LIMITED

Neogen Chemicals Limited (Neogen) and Livent Corporation (Livent) had jointly entered into a definitive agreement on March 4, 2023, for Neogen to acquire 100% stake in BuLi Chemicals India Pvt. Ltd (BuLi Chem) from Livent. The transaction was completed on May 3, 2023, pursuant to which BuLi Chem became a Wholly Owned Subsidiary (WOS) of NCL.

BuLi Chem owns the technology to manufacture N Butyl Lithium and other organolithium products using lithium metal, which are key reagents for lithiation reaction used in manufacturing of several complex pharmaceutical and agrochemical intermediates. BuLi Chem manufactures and supplies N Butyl Lithium to several leading pharma and agrochemical companies in India and across the world and is built one of the very few commercial facilities outside of China for this chemistry.

Neogen is one of India’s leading manufacturers of bromine, lithium-based specialty chemicals and advanced intermediates produced using multiple chemistries. This acquisition shall boost Neogen’s portfolio by offering organolithium derivatives to existing pharma and agrochemical industries and further enhance its advanced intermediates & CSM manufacturing business. More importantly, Neogen is expected to significantly gain from BuLi Chem’s established & proven technology expertise for handling lithium metal & organolithium derivatives. Overall, it will unlock deep synergies by complementing the current portfolio.

BuLi Chem, houses the Indian operations of Livent USA Corp – one of the global leaders in speciality lithium technology. Neogen is happy to welcome the employees of BuLi Chem who have deep experience of more than a decade in handling Organo Lithium Chemistry to the Neogen family. They have managed to develop one of the few facilities outside of China for this chemistry with strong track record in safety and sustainability.

Organo Lithium compounds are important in manufacturing several critical Pharmaceuticals and Agrochemicals intermediates, and we are happy to continue our association and serve this essential need of the society. The technology to use highly reactive Lithium metal and to manufacture N Butyl Lithium and other Organo Lithium derivatives in-house along with Neogen’s ability to recycle Lithium, shall give significant competitive advantage to our existing as well as under-development Pharma Advanced intermediates and CSM projects, further enhancing our ability to provide value-added innovative solutions to our global customers.”