New Delhi: Attero Recycling has announced that it will invest Rs 300 crore in lithium-ion recycling over the next nine months, which will be used to increase the company’s recycling capacity from its current capacity of 1,000 metric tonnes per year. 11 times to increase to 11,000 MT. Through this, Etero Recycling expects to capture 22 percent of the total potential market by October 2022.
Etero Recycling has partnered with various car manufacturers and electronics companies for the collection and recycling of end-of-life batteries in a sustainable manner. The company currently has a 90 per cent market share in automobile and electronic OEMs. Strengthening the EV eco-system, Etero Recycling has also partnered with MG Motors to reuse and recycle the li-ion batteries installed in MG Motors’ ZS EV units.
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Nitin Gupta, CEO and Co-Founder, Atero Recycling says, “Recycling of Li-ion batteries is the need of the hour to ensure sustainable development of our country. About 30% of the value of lithium-ion batteries comes from metals such as cobalt and lithium, and India has no reserves of cobalt or lithium. We aim to make India self-reliant in battery materials by ensuring that the country’s recycling infrastructure is developed and meets India’s current local demand. ,
Etero Recycling uses technology that was approved by NASA to extract pure gold, silver, copper, aluminum and palladium, which is then sold back to the market. The company is already recycling all types of lithium-ion batteries from cell phones to electric buses, weighing in at 30 g to 780 kg, which allows circular economy to extract cobalt, lithium from lithium-ion batteries. Ensures completion.
Atero Recycling is also in the process of increasing its e-waste capacity through the franchise route. As a part of its future roadmap, Etro is in the process of setting up e-waste recycling plants at 14 other locations by the end of 2022. These plants will be strategically located across the country and will enable Etero Recycling to increase its capacity. This will increase the e-waste management capacity of Atero Recycling to 3 lakh metric tonnes per annum.