N.A.N. GreenMet and Belgium’s Silox form JV to build lithium battery recycling and critical minerals platform

N.A.N. GreenMet and Belgium-headquartered Silox have formed a 50:50 joint venture, N.A.N. Silox GreenMet, to establish a lithium-ion battery recycling and critical minerals recovery platform in India.

The JV company will develop and operate an 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 facility will be located in Andhra Pradesh, with land and incentives in place.

The project is planned 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.

Silox brings over four decades of industrial-scale hydrometallurgical expertise in non-ferrous metals recovery. 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. The JV combines this proven process—now being deployed at a new order of magnitude—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 & chairman, 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,” added J.C. Bogaert, chairman, Silox Group.

N.A.N. GreenMet is a technology-led manufacturing platform founded by Navin Agarwal, vice chairman of Vedanta, building India’s critical minerals and clean energy industrial backbone across rare earth magnets, battery recycling, and precision blasting. 

Silox Group is a chemical company headquartered in Belgium and specializing in critical metals recovery, specialty chemicals and innovative materials. Silox develops advanced hydrometallurgical processes to extract and refine valuable metals from secondary resources, with a strong focus on sustainability and circular economy solutions.