NavPrakriti to invest INR 100 crore in critical minerals refining facility in Odisha

NavPrakriti, a lithium-ion battery recycling and refurbishment company, committed to invest over INR 100 crore to establish a greenfield critical minerals refining facility in Odisha, India. The facility, expected to become operational by FY 2028–29, will process up to 5,000 metric tonnes per annum of end-of-life batteries, focusing on the extraction of cobalt, nickel, and lithium. The project aligns with India’s National Critical Mineral Mission, aiming to strengthen the country’s circular economy and reduce import dependence for critical minerals. NavPrakriti, founded in 2024 by Akhilesh and Avnish Bagaria, is developing a robust R&D ecosystem through partnerships with national and global institutions to advance technology for chemical recovery and battery refurbishment. The company’s first operational unit in Serampore, West Bengal, has an annual capacity of 12,000 tonnes, scalable to 24,000 tonnes, while the Odisha plant will be its second greenfield unit dedicated to critical mineral extraction.

Counterparts (2)

Developer

NavPrakriti

company · 1 deals

Kolkata-based lithium-ion battery recycling company specializing in safe, circular recycling of end-of-life batteries with 12,000 TPA capacity and expansion plans to 24,000 TPA by 2027. Focuses on recycling, refurbishing, and refining lithium-ion batteries for EV, ESS, and industrial applications across India.

Partner

NASH Energy

company · 2 deals

Houston-based NASH Energy, founded in 2010, provides project development, construction, and operations management services for energy infrastructure projects, encompassing oil & gas, petrochemicals, and power generation including renewables.