Noida-based Attero Recycling Pvt. Ltd. will be investing about Rs. 600 crore (USD 72.4 million) in developing a Lithium-ion battery recycling plant in Telangana.
Attero’s upcoming Li-ion recycling facility will be developed over an area of 50 acre, and it will bring the company’s annual Li-ion recycling capacity to 19,500 tonnes by 2023 from the current 4,500 tonnes. Talking about this project, Nitin Gupta, CEO and Co-Founder of Attero Recycling, said that it will maximise recovery of battery materials such as Lithium, Nickel, Graphite, Cobalt, Copper and Manganese.
As a long term target, the company seeks to recycle about 3,00,000 tonnes of Li-ion batteries in the coming five years.