NavPrakriti, a lithium-ion battery recycling and refurbishment firm, has announced plans to invest over ₹100 crore in establishing a critical minerals refining facility in Odisha. According to the company, the state-of-the-art facility is expected to become operational by FY 2028–29.
This marks a significant expansion of its operations, with the new plant dedicated to the extraction of cobalt, nickel, and lithium, thereby strengthening domestic supply chains and advancing India’s recycling sector.
The company has recently been deemed eligible under the National Critical Mineral Mission, which supports initiatives in the extraction of key minerals.
The Odisha facility will process up to 5,000 metric tons per annum of end-of-life batteries, focusing on the recovery of critical minerals to bolster India’s circular economy and reduce reliance on imports.
NavPrakriti is also building a robust R&D ecosystem through collaborations with institutions of national and global eminence, advancing technology for chemical recovery and battery refurbishment.
Founded in 2024 by Akhilesh and Avnish Bagaria, NavPrakriti’s first unit in Serampore, West Bengal, is already operational. It has established itself as eastern India’s large-scale lithium-ion battery recycling plant, with an annual capacity of 12,000 tons, scalable to 24,000 tons.
The upcoming Odisha plant will be the company’s second unit dedicated to critical mineral extraction, further strengthening India’s supply chain resilience and sustainability goals.
Akhilesh Bagaria stated that the planned ₹100 crore investment goes beyond scale, setting a new benchmark for responsible battery recycling and advanced mineral recovery in India. He added that the project aims to create over 500 direct and indirect jobs, delivering significant socio-economic impact.
The company is targeting high-purity recovery of lithium, cobalt, nickel, and other rare earth minerals from spent batteries.
Avnish Bagaria emphasised that with eligibility under the National Critical Mineral Mission, NavPrakriti is accelerating its ambitious goal of partnering with over 150 battery OEMs and leading manufacturers within the next three years.
This initiative underscores the company’s commitment to building a circular battery economy and contributing to India’s strategic self-reliance in critical minerals.
PTI
