Attero Recycling to invest Rs 300 cr in lithium battery capacity
POWER & RENEWABLE ENERGY

Attero Recycling to invest Rs 300 cr in lithium battery capacity

Attero Recycling has planned to invest Rs 300 crore in growing its lithium-ion battery recycling capacity to 11,000 million tonnes per annum (mtpa) from 1,000 mtpa by October 2022.

Nitin Gupta, CEO and co-founder of Attero Recycling, told the media that the company would increase its e-Waste capacity via franchise route.

He said that the company is already setting up plants to recycle e-Waste at 14 locations by December 2022.

He added that the company would ramp up its e-Waste capacity by 1,56,000 metric tonnes per year to 3 lakh metric tonnes by December 2022 through franchisees.

India generates more than 50,000 tonnes of lithium-ion battery waste each year. The company envisions getting 22% of the total potential market size by October 2022.

Gupta said that the company might sign a deal with Tesla for the supply of recycled products. Attero Recycling has raised Rs 140 crore, including Rs 25 crore debt.

The company focuses on producing sustainable materials like cobalt, nickel, tin, copper, silver and gold, completing the circular economy value chain.

The company's market share of automobiles and original electronic manufacturers (OEMs) is 90%. The company has partnered with MG Motors to recycle lithium-ion batteries fitted in the brand's ZS electronic vehicle (EV) units.

Gupta said that the company is looking at an initial public offering (IPO) in the next two to three years.

Image Source

Attero Recycling has planned to invest Rs 300 crore in growing its lithium-ion battery recycling capacity to 11,000 million tonnes per annum (mtpa) from 1,000 mtpa by October 2022. Nitin Gupta, CEO and co-founder of Attero Recycling, told the media that the company would increase its e-Waste capacity via franchise route. He said that the company is already setting up plants to recycle e-Waste at 14 locations by December 2022. He added that the company would ramp up its e-Waste capacity by 1,56,000 metric tonnes per year to 3 lakh metric tonnes by December 2022 through franchisees. India generates more than 50,000 tonnes of lithium-ion battery waste each year. The company envisions getting 22% of the total potential market size by October 2022. Gupta said that the company might sign a deal with Tesla for the supply of recycled products. Attero Recycling has raised Rs 140 crore, including Rs 25 crore debt. The company focuses on producing sustainable materials like cobalt, nickel, tin, copper, silver and gold, completing the circular economy value chain. The company's market share of automobiles and original electronic manufacturers (OEMs) is 90%. The company has partnered with MG Motors to recycle lithium-ion batteries fitted in the brand's ZS electronic vehicle (EV) units. Gupta said that the company is looking at an initial public offering (IPO) in the next two to three years. Image Source

Next Story
Infrastructure Urban

Budget 2025: Key Highlights

On February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2025-26 in Parliament. This marks the eighth budget by Sitharaman, making her the first finance minister in India’s history to present so many budgets. It is also the first budget of Prime Minister Narendra Modi’s third term.Sitharaman emphasised that the budget focuses on driving growth towards a “Viksit Bharat” (Developed India), with the country maintaining its position as the fastest-growing major economy. She outlined the government’s commitment to inclusive development, im..

Next Story
Infrastructure Urban

Budget 2025-26: Industry reactions

Union Finance Minister, Nirmala Sitharaman announced Budget 2025-26 today. The government has planned a number of strategic initiatives which will drive inclusive growth, boost economic growth and provide an impetus to to India’s competitive edge on the global stage.Here’s what industry has to say about various announcements and initiatives announced in the budget:Real Estate“The Union Budget 2025 is a game-changer, reinforcing India's commitment to inclusive and sustainable urban growth. The SWAMIH Fund 2 with Rs 15,000 crore will accelerate the completion of stalled housing projects, b..

Next Story
Infrastructure Urban

Budget 2025: Key Announcements Impacting Real Estate

Key takeaways for the real estate sector include:• Income tax relief for the middle class: The finance minister announced zero income tax for individuals earning up to Rs 12 lakh annually, providing a major consumption boost. This move is also expected to strengthen demand for affordable housing. Additionally, the new income tax bill will retain nearly 50 per cent of existing provisions while introducing personal tax reforms and rationalising TDS and TCS regimes by streamlining rates and thresholds.• Tax benefits for residential property investors: Investors can now claim nil valuation for..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000