With a target to increase its Li-ion battery recycling capacity to 11,000 metric tonnes, Attero Recycling Pvt Ltd has earmarked an investment of Rs 300 crore
Attero Recycling Pvt Ltd, the country's largest electronic waste recycling company, has announced an investment of Rs 300 crore into Li-ion recycling over the coming nine months. The allocated invesment will be used to ramp up the Li-ion battery recycling capacity of the firm by as much as 11 times to a whopping 11,000 metric tonnes.
Currently, Attero Recycling enjoys a lithium-ion battery recycling capacity of 1,000 metric tonnes anually. On the other hand, India generates more than 50,000 metric tonnes of lithium-ion battery waste per annum. With a higher capacity of recycling 11,000 metric tonnes, Attero Recycling aims to capture 22 per cent of the total market size of Li-ion battery recycling by October next year.
As India strives for quicker adoption of EVs, Li-ion battery waste could grup by up to 80 per cent year-on-year. In order to help India efficiently manage the lithium ion battery waste, Attero Recycling Pvt Ltd has already joined hands with several electronic companies for collecting the batteries that are at the end of their lifecycles. For example, in the auto market, Attero Recycling has partnered with MG Motor India to recycle Li-ion batteries fitted in the brands ZS EV.
Speaking on this, Rajeev Chaba, President and Managing Director, MG Motor India, has said, Ensuring end-to-end sustainability for electric vehicles is something we are passionate about at MG. Since battery waste is a challenge for sustainable mobility, we believe battery recycling is the optimum way of bridging this void. We look forward to doing more work in this space to create sustainable, end-to-end solutions that will help us drive radical impact .
Nitin Gupta, CEO and Co-founder Attero Recycling, has added, As the momentum of EV players grows, it is becoming critical for India to have a sustainable approach to managing E-waste. It also holds the key to helping our country transition from a linear to a circular economy. We have the technology that enables us to extract almost 99% of all metals from a lithium-ion battery and we envision making India Atmanirbhar in precious metals such as Copper, Lithium and Cobalt through these processes. We are delighted to join hands with MG and our partnership will be instrumental in strengthening the EV ecosystem and set an example across the industry.
Nitin Gupta CEO and Co-founder of Attero Recycling says, Recycling Li-ion batteries is the need of the hour to ensure sustainable development of our country. Almost 30% of the value for lithium-ion batteries comes from metals that make it and India does not have any reserves of cobalt or lithium. By ensuring that the recycling infrastructure in the country can grow and meet India's current local demand, we want to make India Atamnirbhar in battery materials.
Attero Recycling makes use of NASA-approved avant-garde technology that is NASA approved to extract gold, silver, copper, aluminium and palladium from the waste and sell it back to the market. The company has been recycling lithium-ion batteries coming from everything ranging from a cell phone to an electric bus. The weights of these batteries range from 30 grams to 780 kgs.
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