NavPrakriti Launches Rs 100 Crore Initiative for Critical Minerals Refining in Odisha
NavPrakriti, a lithium-ion battery recycling firm, plans to invest over Rs 100 crore in a critical minerals refining facility in Odisha set to operate by FY 2028-29. The facility will process 5,000 MTA of used batteries to recover essential minerals, contributing to India's circular economy and reducing import dependency.
- Country:
- India
In a strategic move to bolster India's circular economy, NavPrakriti announced a significant investment exceeding Rs 100 crore towards establishing a critical minerals refining facility in Odisha. This new development is expected to be operational by the fiscal year 2028-29 and aims to process 5,000 metric tonnes of end-of-life batteries annually.
The firm's eligibility under the National Critical Mineral Mission marks a pivotal stride in strengthening domestic supply chains. This initiative is set to recover high-purity lithium, cobalt, nickel, and other rare earth minerals from spent batteries, significantly reducing dependency on imports.
Founded in 2024, NavPrakriti has rapidly emerged as a leader in the battery recycling space, already operating a major facility in West Bengal. The company's planned Odisha unit is poised to enhance supply chain resilience, create substantial employment opportunities, and set new standards for responsible recycling practices
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