Belgian metals recovery specialist Silox and Indian critical minerals company NAN GreenMet have formed a 50:50 joint venture to develop a lithium-ion battery recycling and critical minerals platform in India.
The new company, NAN Silox GreenMet, will build and operate an industrial facility in Andhra Pradesh for processing spent batteries. The site will incorporate shredding, beneficiation and hydrometallurgical refining to recover lithium, cobalt, nickel and manganese from end-of-life batteries.
The project will be developed in two phases and is ultimately intended to provide annual capacities of up to 40,000 tonnes of battery shredding and 20,000 tonnes of hydrometallurgical processing. Beyond recycling, the partners said they will also investigate downstream activities including cathode active materials and second-life battery applications for stationary energy storage.
Silox brings more than 40 years of experience in non-ferrous metals recovery and has already developed and validated a proprietary process for recovering battery-grade lithium, cobalt and nickel through its Indian subsidiary. The companies said the joint venture combines this technology with NAN GreenMet’s industrial capabilities, financing access and policy expertise.
Silox providing infrastructure for Viksit Bharat
Navin Agarwal, founder and chairman of NAN GreenMet, said: “Every spent battery is a domestic resource — lithium, cobalt, nickel, manganese — that today leaves India’s supply chain forever. NAN 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.”
Jean-Christophe Bogaert, chairman of 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. NAN GreenMet gives us the execution platform and scale to make this India’s defining critical minerals recycling platform.”
The announcement comes amid increasing efforts by governments and industry to diversify battery materials supply chains and establish domestic sources of critical minerals through recycling.
Silox, headquartered in Belgium, specialises in critical metals recovery and hydrometallurgical processes, while NAN GreenMet, founded by Vedanta vice-chairman Navin Agarwal, is building businesses spanning rare earth magnets, battery recycling and other critical minerals technologies.
Photo credit: Silox
