NavPrakriti to Invest Over INR 1 Billion in Odisha for Critical Minerals Refining Facility
Apr 22 (BNP): NavPrakriti, an eastern India-based lithium-ion battery recycling and refurbishment company, has announced plans to invest over ₹1 billion (approximately $10.7 million) to establish a greenfield critical minerals refining facility in Odisha. The project marks a significant expansion of the company’s presence in India’s growing battery recycling and clean energy ecosystem.
The proposed facility will focus on recovering key critical minerals such as lithium, cobalt, and nickel from end-of-life batteries used in smartphones, laptops, and electric vehicles. This initiative aims to strengthen India’s domestic supply chain for essential minerals while addressing the rising challenge of battery waste management.
The company has stated that the facility is expected to become operational by the financial year 2029. Once operational, it will enhance large-scale recycling capacity and contribute to the development of a circular economy in the battery materials sector.
NavPrakriti’s expansion into Odisha reflects the increasing importance of sustainable resource recovery in India’s energy transition. The project is also expected to generate employment opportunities and support regional industrial growth while promoting environmentally responsible practices.
With this investment, NavPrakriti aims to play a key role in advancing India’s critical minerals strategy and supporting the country’s shift toward cleaner and more sustainable energy technologies.
