Attero Recycling, electronic waste Li-ion battery recycling company, will invest ₹600 crore to set up a latest integrated Lithium-ion battery recycling factory in Telangana. The over 50-acre facility, to come up near Hyderabad, will increase Attero’s Li-Ion battery recycling capacity to 19,500 tonnes by the end of 2023 from its current capacity of 4,500 tonnes.
MoU with Telangana
Attero has signed a Memorandum of Understanding (MoU) with Telangana Government to strengthen the li-ion battery recycling ecosystem and establish a hub for Li-Ion battery recycling for its India operations.
“Telangana has been a pioneer in fostering a climate that would encourage the use of zero-emission vehicles. We were one of the first states to introduce the ‘EV & ESS’ policy in 2020. The EV ecosystem is thriving in the State and we are glad that Attero will also be a significant part of the ecosystem,’‘ KT Rama Rao, Minister for IT & Industries, Telangana said.
Nitin Gupta, CEO and Co-Founder, Attero Recycling, said the upcoming facility would be instrumental in paving the way for India’s independence in battery materials.
``Telangana is an ideal location as it is a hub for the EV industry and is creating a favourable environment for the adoption of zero-emission vehicles,’‘ he added.
“With EV production on the rise, lithium battery recycling is more important than ever. The improper disposal of Li-ion battery recycling is not only an environmental threat but also a wasted opportunity to extract rare materials. This new facility will increase our current capacity to recycle more Li-Ion batteries in an environmentally friendly manner,’‘ Gupta said.
Attero utilises proprietary and globally patented Avant-grade recycling technologies and has World’s Highest RER (Recycling Efficiency Rate) at 98 per cent. It has been successfully recycling all kinds of end-of-life Li-Ion batteries, factory waste, and black mass and extracting pure battery grade Lithium Carbonate, Cobalt, Graphite, Nickel, Manganese among others. The extracted materials are sold in the market at LME or Fast Market prices ensuring a healthy circular supply chain.
To accelerate its efforts in sustainability and li-ion battery recycling, Attero recently announced its international expansion plans including India. The company intends to recycle 300,000 tonnes of lithium-ion batteries within the next five years.
The global recycling industry is projected to reach $22.8 billion by 2030, up from $4.6 billion currently, expanding at a CAGR of 19.6 per cent, according to a release.