Recycling, electronic waste and Li-ion battery recycling company, today announced that it will invest Rs 600 crore to set up a Lithium-ion battery recycling factory inTelangana. The facility will be spread over 50 acres and will increase Atteros Li-Ion battery recycling capacity to 19,500 MT by the end of 2023 from its current capacity of 4,500 MT.
Attero has signed a Memorandum of Understanding (MoU) withTelangana Governmentto strengthen the li-ion battery recycling ecosystem in the country and establish a hub for Li-Ion battery recycling for its India operations. The new facility will provide direct EMPLOYMENT to over 400 people and over 1,100 indirectly.
The extracted materials are sold in the market at LME or Fast Market prices. Currently, Attero is the only company in the world to be approved by for safely reducing carbon emissions from recycling E-Waste and Li-Ion waste.
The global recycling Industry is projected to reach $22.8 billion by 2030, up from $4.6 billion currently, expanding at a CAGR of 19.6%. With the planned capacity expansion, Attero would be able to meet 15% of the global demand for Li-Ion, 15% of the global demand for cobalt, and 15% of the global demand for graphite and emerge as one of the most formidable players in the industry.