N.A.N. GreenMet, Silox form joint venture for battery recycling platform

The 50:50 joint venture will establish an advanced lithium-ion battery recycling and critical minerals recovery platform in Andhra Pradesh

N.A.N. GreenMet, the advanced manufacturing platform founded by Navin Agarwal, vice-chairman of Vedanta, and Silox, the Belgium-headquartered global leader in hydrometallurgical processing of non-ferrous metal residues, on Thursday announced the formation of N.A.N. Silox GreenMet Pvt. Ltd., a 50:50 joint venture to establish India's most advanced lithium-ion battery recycling and critical minerals recovery platform.

 

India now imports most of its battery-grade critical minerals — lithium, cobalt, nickel and manganese — a structural vulnerability at the heart of its electric vehicle and clean energy supply chain. N.A.N. Silox GreenMet aims to transform the growing end-of-life battery stream from EVs, electronics and energy storage into a domestic, circular and sovereign capability. The company will develop and operate a state-of-the-art industrial facility to process spent batteries through shredding, beneficiation and hydrometallurgical refining, enabling the recovery of strategic materials such as lithium, cobalt, nickel and manganese.

   

The project is expected to be developed in two phases, ultimately targeting a total capacity of up to 40,000 tonnes per annum of shredding and 20,000 tonnes per annum of hydrometallurgical processing. Beyond recycling, the joint venture will also explore downstream value creation, including cathode active materials as well as second-life battery applications for stationary energy storage systems. The facility will be located in Andhra Pradesh, with land and incentives already in place.

 

Silox brings over four decades of industrial-scale hydrometallurgical expertise in non-ferrous metals recovery. Crucially, its Indian entity, Silox Specialties India, has developed and validated a proprietary process for battery-grade lithium, cobalt and nickel recovery at pilot scale in India. This is not first-generation technology; it is a proven process being deployed at a new order of magnitude, combined with N.A.N. GreenMet's industrial execution, capital access and deep policy relationships.

 

"Every spent battery is a domestic resource — lithium, cobalt, nickel, manganese — that today leaves India's supply chain forever. N.A.N. Silox GreenMet changes that: Europe's most proven hydrometallurgical technology at the scale India's clean energy transition demands. This is circular economy infrastructure for Viksit Bharat," said Navin Agarwal, founder and chairman of N.A.N. GreenMet.

 

"This joint venture fully aligns with Silox's strategy to close the loop on critical metals through advanced recycling solutions. We are convinced that India will play a key role in the global battery ecosystem, and we are proud to contribute to its development. N.A.N. GreenMet gives us the execution platform and scale to make this India's defining critical minerals recycling platform," said J C Bogaert, chairman of Silox Group.