The company has earlier announced to ramp up its entire electronic waste recycling capacity by more than double to 3 lakh metric tons by the end of 2022, from 1.44 lakh metric tons
Attero is planning to invest Rs 300 crore to increase its existing lithium-ion battery recycling capacity by 11 times to 11,000 tons by the end of 2022.
“By the end of 2022, we will be around 22 per cent of the current market size. In terms of tons, it will be 11,000 tons. We are making fresh investments and will soon have a significant amount of investment to build up this capacity… We are planning to invest close to around INR 300 crore,” Attero Recycling CEO and co-founder Nitin Gupta told PTI.
In addition to lithium-ion recycling capacity, the company has earlier announced to ramp up its entire electronic waste recycling capacity by more than double to 3 lakh metric tons by the end of 2022, from 1.44 lakh metric tons.
The company is looking at becoming a big player in not only recycling lithium-ion batteries but also becoming a significant player in the supply chain of critical materials, which include cobalt, Lithium, Graphite, and Nickel.
“We have a commercial plant running for the last two years, where we are recycling all kinds of lithium-ion batteries ranging from a cell phone all the way to an electric bus with weights ranging from 30 grams to 780 kilogram. We’re extracting pure battery grade cobalt and pure pharmaceutical grade lithium carbonate which is used as a depressant in drugs,” Gupta said.
India generates more than 50,000 tons of lithium-ion battery waste every year and it is growing in the range of 40-80 per cent depending on different models used for computing electric vehicle growth in India.