Li-Ion battery recycling firm, Attero Recycling broadcasts its international enlargement coverage. Attero plans to increase its footprint throughout Europe, US, and Indonesia markets.
Attero plans to arrange operations and recycling services in Poland (Europe), Ohio (USA), and Indonesia, and can make investments USD 1 Billion (~Rs 7,700 crore). With this funding, Attero plans to recycle greater than 3,00,000 MT of Lithium-Ion battery waste per yr by 2027 in its services in Europe, US, India, and Indonesia.
Attero Recycling’s international enlargement plan will probably be carried out in a phased method. As part of the primary part, Attero will make investments USD 500 million (~Rs 3800 crore) to scale its Li-Ion battery recycling capability to 1,50,000 MT by 2025.
The European facility will probably be useful by This autumn 2022, whereas the USA facility will probably be up and operating by the Q3 of 2023. The Indonesian manufacturing unit is scheduled to be useful by Q1 of 2024. This will assist Attero meet over 15% of the world’s demand for Cobalt, Lithium, Graphite, and Nickel, amongst others.
In its second part of enlargement, Attero goals at recycling 3,00,000 MT of Lithium-Ion battery waste per yr by 2027. Attero will make investments an extra USD 500 million (~Rs 3800 crore). This extra Capex will probably be used to scale up the capability by 1,50,000 MT by means of its services in Europe, USA, India, and Indonesia.
Nitin Gupta, CEO and Co-founder, Attero says, “There is an increased focus on electric vehicles, which has resulted in an increased demand for Lithium-Ion battery recycling. By 2030, 2.5 million tons of Lithium-Ion batteries will have reached end-of-life. Through our NASA-recognised technology developed in India and patented globally, we can effectively recycle the materials in a sustainable manner and extract pure metals that can be ploughed back into the economy. At Attero, we have been futuristic in our approach and initiated Li-Ion battery recycling at our plant in 2019.”
He added, “Through our consistent efforts and R&D focus we have maintained the highest purity (battery grade) and recover efficiency (98%) across various battery materials including Cobalt, Graphite, Lithium, Nickel, and Manganese while maintaining the lowest Capex and Opex in the world in this space. This is also reflected in our financial performance over the years. We are very excited about the next phase of our journey and ready to replicate our success beyond India. For our international expansion, we will be collaborating with world-class leaders/partners who can support us in establishing our facilities in the US, Europe and Indonesia markets.”
Source: www.financialexpress.com”