Neogen Chemicals Expands into Lithium-Ion Battery Materials Amid Fire Incident Setback May 20, 2025
Neogen Chemicals is entering the lithium-ion battery material segment for growth while managing the aftermath of a significant fire at one of its facilities. The fire caused an estimated inventory loss of Rs 160-180 crores, with a replacement value of Rs 200-225 crores. The company plans to fully capitalize the replacement value, indicating a commitment to swift recovery. Despite the setback, Neogen's expansion into battery materials aligns with the growing demand for electric vehicles and renewable energy storage solutions.