The company is planning to have around six franchises in various states of the country, which will give it an additional capacity of 30,000 tonnes per year
Electronic waste recycling company Attero Recycling is looking to get listed on stock exchanges in three years following the expansion of its e-waste processing capacity by the end of this year.
With an eye to double its capacity, the company told news agency PTI that is planning to set up six new e-waste recycling plants by the end of this year and a total of 14 new plants by 2022 on a franchisee model, bringing its processing capacity to around 3 lakh tonnes.
In an interaction with PTI, Attero Recycling CEO and co-founder Nitin Gupta told, “The listing will typically be around the next three years when we will be looking at the listing. The work would start on that process, probably a year or a year-and-a-half from today. The decision to list whether in India or the US will be taken at that point in time.”
He said the company has also been able to extract metals from lithium-ion battery waste with 99 per cent efficiency and plans to become a supplier for battery metals in the next seven years.
“We are experiencing triple-digit growth year-on-year, and the company is profitable and cash flow-positive. Largely, this growth is driven by the fact that the government implemented extended producer responsibility (EPR) regulations. Today, 30 products are covered under the EPR regime. This number is expected to increase to 700 products. These targets are set to 2025,” Gupta said.
He said that the company is planning to have around six franchises in various states of the country, which will give it an additional capacity of 30,000 tonnes per year, on top of its current capacity of 1,44,000 tonnes per year in the Roorkee facility.
“By the end of the next year, we are expecting that we will increase this number by an additional 1,56,000 tonnes per year by adding roughly around 14 franchisees and covering entire India.
“We will essentially have a plant in every part of the country, every state of the country, and using a hub and spoke methodology,” Gupta said.
The company is planning new plants in Telangana, Uttar Pradesh, Karnataka and Maharashtra, and in every state by the end of 2022.