N.A.N. GreenMet, the manufacturing platform founded by Mr. Navin Agarwal, Vice Chairman of Vedanta, and Belgium-headquartered hydrometallurgical processing leader Silox have 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.
The venture is aimed at reducing India’s dependence on imports of battery-grade critical minerals such as lithium, cobalt, nickel, and manganese — a structural vulnerability at the heart of the country’s EV and clean energy supply chain.
The joint venture will set up a state-of-the-art industrial facility to process spent batteries from EVs, electronics, and energy storage systems through shredding, beneficiation, and hydrometallurgical refining, enabling the recovery of strategic materials. The project will be developed in two phases, with a target capacity of up to 40,000 tonnes per annum of shredding and 20,000 tonnes per annum of hydrometallurgical processing. Beyond recycling, the venture will also explore downstream opportunities including cathode active materials and second-life battery applications for stationary energy storage. The facility will be located in Andhra Pradesh, with land and incentives already in place.
The technology underpinning the venture is not new. Silox brings over four decades of industrial-scale hydrometallurgical expertise in non-ferrous metals recovery, and its Indian entity, Silox Specialties India, has already developed and validated a proprietary process for battery-grade lithium, cobalt, and nickel recovery at pilot scale in India. The joint venture combines this proven technology with N.A.N. GreenMet’s industrial execution capabilities, capital access, and policy relationships.
Mr. Navin Agarwal, Founder and Chairman, N.A.N. GreenMet Pvt. Ltd., said, “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.”
Mr. J.C. Bogaert, Chairman, Silox Group, said, “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.”
The venture’s final outputs will include battery-grade metal salts of lithium, cobalt, nickel, and manganese, along with precursor and cathode active materials, feeding directly into EV cell manufacturers, battery energy storage systems, and grid storage applications. The project has also been designated as a beneficiary under the Government of India’s ₹1,500 crore Critical Minerals Recycling Scheme, reinforcing its strategic alignment with the country’s broader critical minerals and clean energy ambitions.
