The expansion will help Attero, India’s largest lithium-ion battery recycling company, meet over 15 percent of the world’s demand for cobalt, lithium, graphite and nickel, Gupta said
With eyes set on expansion, EV battery recycling company Attero Recycling is planning to invest $1 billion over five years to build lithium-ion battery recycling plants in Europe, the US and Indonesia.
This comes as demand for the metal surges amid the global shift to electric cars.
“There’s a tremendous amount of lithium-ion battery waste available for us to recycle,” Attero Chief Executive Officer and Co-Founder Nitin Gupta said in an interview.
“Lithium-ion batteries are becoming ubiquitous because they’re used in consumer electronics and electric vehicles,” he said.
With the $1 billion investment, Attero is seeking to recycle over 300,000 metric tons of lithium-ion battery waste annually by 2027, Gupta said. One facility in Poland will begin operating by the fourth quarter of 2022, while a plant in Ohio is expected to be up and running by the third quarter of 2023. A plant in Indonesia should be functional by the first quarter of 2024.
The expansion will help Attero, India’s largest lithium-ion battery recycling company, meet over 15% of the world’s demand for cobalt, lithium, graphite and nickel, Gupta said.
Attero recycles all types of old lithium-ion batteries and then exports the output to gigafactories manufacturing battery cells outside of India.
Attero mainly extracts critical metals such as cobalt, nickel, lithium, graphite and manganese, and its clients in India include Hyundai Motor Co., Tata Motors Ltd. and Maruti Suzuki India Ltd., among others, Gupta said.