NavPrakriti to Invest ₹100 Crore in Critical Minerals Refining Facility to Boost Circular Economy and Cut Imports

NavPrakriti, a lithium-ion battery recycling and refurbishment company based in eastern India, has announced plans to invest over ₹100 crore in setting up a greenfield critical minerals refining facility in Odisha. The proposed unit is expected to be operational by FY 2028–29 and will process up to 5,000 metric tonnes per annum (MTA) of end-of-life batteries.

The development comes as the company has been deemed eligible under the National Critical Mineral Mission (NCMM) for the extraction of key materials such as lithium, cobalt, and nickel. This move is aimed at strengthening India’s domestic supply chain while reducing dependence on imports and advancing the country’s circular economy goals.

The upcoming facility will focus on high-purity recovery of critical minerals and rare earth elements from spent batteries, aligning with the government’s push to build self-reliance in strategic resources. NavPrakriti is also investing in research and development through collaborations with leading national and global institutions to enhance chemical recovery technologies and battery refurbishment processes.

Founded in 2024 by Akhilesh Bagaria and Avnish Bagaria, the company currently operates a recycling unit in Serampore, West Bengal, with an annual capacity of 12,000 tonnes, scalable to 24,000 tonnes. The Odisha plant will mark its second major facility and its first dedicated to advanced mineral extraction.

Commenting on the development, Co-founder Akhilesh Bagaria stated that the investment aims to set new benchmarks in responsible recycling while generating over 500 direct and indirect jobs, contributing to regional socio-economic growth.

Co-founder Avnish Bagaria highlighted that the company is targeting partnerships with more than 150 battery OEMs and manufacturers over the next three years. NavPrakriti has also recently partnered with NASH Energy to implement closed-loop recycling systems, ensuring responsible end-of-life battery management in compliance with Extended Producer Responsibility (EPR) norms.

With its expansion plans and focus on innovation, NavPrakriti is positioning itself as a key player in India’s emerging battery recycling ecosystem, supporting both sustainability objectives and long-term resource security.