Attero ,India’s largest battery recycling company to spend $1 billion on battery recycling plants



Attero Recycling Pvt ,Indian battery recycling company is planning to invest $1 billion over five years to build lithium-ion battery recycling plants in Europe, the US and Indonesia as demand for the metal surges amid the global shift to electric cars.

Lithium-ion batteries are becoming ubiquitous

Attero Chief Executive Officer and Co-Founder Nitin Gupta said ,“There’s a tremendous amount of lithium-ion battery waste available for us to recycle”. By 2030, 2.5 million tons of lithium-ion batteries will reach the end of their life, while currently there’s only the capacity for 0.7 million tons of battery waste to be recycled. Lithium-ion batteries are becoming ubiquitous because they’re used in consumer electronics and electric vehicles.

Recycling old batteries will be critical for the supply of lithium, which is running out and jeopardising the global transition to sustainable energy via electric vehicles. As lithium supply fails to keep up with demand, battery prices which account for almost half of the cost of an electric vehicle are skyrocketing. Higher battery prices might make electric cars unaffordable for the general public and value-conscious economies like India, which is already lagging behind large nations like China in making the move.

Seeking to recycle over 300,000 MT of lithium-ion battery waste

Attero is seeking to recycle over 300,000 metric tons of lithium-ion battery waste annually by 2027. One facility in Poland will begin operating by the fourth quarter of 2022, while a plant in Ohio is expected to be up and running by the third quarter of 2023. A plant in Indonesia should be functional by the first quarter of 2024.

Expansion will help to meet over 15% of the world’s demand

The expansion will help Attero, meet over 15% of the world’s demand for cobalt, lithium, graphite and nickel. It recycles all types of old lithium-ion batteries and then exports the output to gigafactories manufacturing battery cells outside of India. It mainly extracts critical metals such as cobalt, nickel, lithium, graphite and manganese. Its clients in India include Hyundai Motor Co., Tata Motors Ltd. and Maruti Suzuki India Ltd., among others.

Mining cause environmental damage

Mining those metals, rather than getting them out of second-hand batteries, can cause environmental and social damage, noting that extracting one ton of lithium requires 500,000 gallons of water.

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Dr. Kirti Sisodhia

Content Writer

CATEGORIES Business Agriculture Technology Environment Health Education

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