Attero Recycling plans to spend $1 billion to expand as EVs take off
E-waste recycling firm Attero Recycling plans to invest USD 1 billion, about Rs 7,700 crore, to expand its lithium ion recycling capacity across the globe to 3 lakh metric tonnes per annum by 2027, a top official of the company said Tuesday.
Attero Recycling CEO and co-founder Nitin Gupta said that the company at present recycles lithium ion in India only but with fresh investment the company will expand recycling capacity globally to 1.5 lakh MT by 2025 in phase 1 with investment of USD 500 million and then to 3 lakh MT by 2027 with additional investment of USD 500 million.
“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 tonnes of lithium-ion batteries will have reached end-of-life.
