NAN GreenMet and Silox Form Battery Recycling Joint Venture in India

N.A.N. GreenMet and Belgium-headquartered Silox Group have announced a 50:50 joint venture, N.A.N. Silox GreenMet Pvt. Ltd., to develop a lithium-ion battery recycling and critical minerals recovery facility in Andhra Pradesh. The venture was announced on 18 June 2026 and positions itself as a response to India's reliance on imported battery-grade minerals — lithium, cobalt, nickel, and manganese — which underpin the country's electric vehicle and energy storage sectors.

The facility is planned in two phases, with a targeted total capacity of up to 40,000 tonnes per annum (MTPA) of spent battery shredding and 20,000 MTPA of hydrometallurgical processing. Final outputs are expected to include battery-grade metal salts — lithium, cobalt, nickel, and manganese — as well as precursor cathode active material (pCAM) and cathode active material (CAM), intended for supply to EV cell manufacturers, battery energy storage systems, and grid storage applications.

Technology and Localisation

Silox brings more than four decades of hydrometallurgical experience in non-ferrous metals recovery. Its Indian subsidiary, Silox Specialties India, has developed and pilot-validated a proprietary process for battery-grade lithium, cobalt, and nickel recovery within India. The joint venture combines this process technology with N.A.N. GreenMet's industrial execution capabilities, capital access, and policy relationships. Land and state incentives in Andhra Pradesh have been confirmed, the companies said.

Policy Context

N.A.N. Silox GreenMet has been designated as a beneficiary under the Government of India's ₹1,500 crore Critical Minerals Recycling Scheme. Beyond recycling, the joint venture intends to explore downstream value-added activities, including second-life battery applications for stationary energy storage.

N.A.N. GreenMet is a technology-led manufacturing platform founded by Navin Agarwal, Vice Chairman of Vedanta, focused on critical minerals and clean energy industrial infrastructure, including rare earth magnets, battery recycling, and precision blasting. Silox Group is an international chemical company headquartered in Belgium with industrial sites in Belgium, India, Canada, France, Germany, and Thailand, specialising in critical metals recovery and specialty chemicals.