- RecycleKaro’s investment of Rs 100 crore in Maharashtra aims to establish a Nickel Metal Plant
- RecycleKaro’s advanced technology not just fulfills the rising need for nickel in lithium-ion batteries but also lessens dependence on worldwide supply chains
RecycleKaro,a lithium-ion battery recycling firm, has unveiled its plan to establish a Nickel Metal plant in Maharashtra, backed by an investment of Rs 100 crore. By this initiative, RecycleKaro aims to fulfill the increasing demand for nickel in the EV landscape and also seeks to cultivate India’s autonomy in this crucial sector, aligning perfectly with the “Atmanirbhar” drive. By doing so, it aspires to minimize the industry’s reliance on China’s nickel dominance.
While the lithium-ion battery industry may not be a predominant nickel consumer currently, projections reveal a seismic shift on the horizon. Experts anticipate up to a tenfold surge in nickel demand for lithium-ion batteries by 2030, fueled by the exponential rise in EV adoption. This trajectory sets the stage for an unprecedented 60 percent surge in nickel demand by 2040. RecycleKaro’s Nickel Metal facility is poised to not just cater to this demand but also bolster India’s stature in the international lithium-ion value chain.
Covering an area of 17 acres, the facility will include a plant that can produce Nickel Metal from used lithium-ion batteries and nickel hydroxide. Using its technology, RecycleKaro can take out valuable metals from the black stuff left in old lithium-ion batteries and nickel hydroxide. They do this with their special temperature-controlled process, making really pure nickel metal.
The anticipated annual production of 1,200 tonnes of nickel metal is projected to fulfill India’s growing needs, with 30 percent of the output allocated for utilization in the fiscal year 2023-24. A nation that presently imports its entire 45 KTPA (kilo tonnes per annum) nickel demand is on a transformative journey toward self-sufficiency.
Rajesh Gupta, Founder and Director of RecycleKaro, stated that the establishment of a state-of-the-art Nickel metal plant represents a noteworthy achievement, not just for their organization but also for the entire electric vehicle (EV) sector. He remarked that with the world moving towards a sustainable future, the demand for EVs is set to increase significantly, along with the requirement for essential elements like nickel metal for lithium-ion batteries.
(This article is assisted by Chat GPT)
