Attero Recycling To Invest Rs 300 Crore Ramping Up Li-ion Battery Recycling Capacity

0
127

Nitin Gupta said Attero Recycling is eyeing an initial public offering (IPO) in the next two to three years

Attero Recycling plans to invest INR 300 crore in ramping up its lithium-ion battery recycling capacity to 11,000 metric tonnes per annum by October 2022 from its current capacity of 1,000 metric tonnes per annum, a senior company official said.

According to Nitin Gupta, CEO and Co-founder of Attero Recycling, the company is in the process of increasing its e-Waste capacity through franchise route.

He said the company is in the process to raise its capacity for recycling e-Waste by 1,56,000 metric tonnes per year through total of 14 franchisees pan-India to 3 Lakh metric tonnes by end of 2022.

Attero Recycling is already in process of setting up plants to recycle e-Waste at 14 other locations by the end of 2022, Gupta said.

India, at present, generates over 50,000 tonnes of lithium-ion battery waste every year. Through this enhanced capacity, Attero Recycling envisions to capture 22 per cent of the total potential market size by October 2022.

Gupta said Attero Recycling is likely to close a deal with Tesla for supply of recycled products. The company has so far raised INR 140 crore capital including INR 25 crore in debt.

Nitin Gupta said Attero Recycling is eyeing an initial public offering (IPO) in the next two to three years.

He said the company may look for a dual listing, both in India and the US, but primarily they will be listed in the domestic exchanges.

Attero Recycling, which caters to both Indian and global manufacturing majors across electronic and automobile segments, including Samsung, LG, Acer, Whirlpool, Oppo, Vivo, Toyota, plans to foray into the global markets in early 2022.

LEAVE A REPLY

Please enter your comment!
Please enter your name here