Attero Recycling, an end-to-end e-waste management and Li-ion recycling solution provider, on Tuesday announced its expansion strategy for Europe, US and Indonesia markets, and set a target to invest $1 billion by 2027 to enhance its capacity to 300,000 MT.
With a stronghold in the Indian market, Attero plans to set up operations and mega recycling facilities in Poland (Europe), Ohio (USA), and Indonesia, for which it has earmarked an investment of $1 billion, Attero Recycling said in a statement. Through this investment, Attero aims to recycle more than 300,000 MT of Lithium-Ion battery waste per year by 2027 in its facilities spread across Europe, the US, India, and Indonesia.
Attero Recycling said it will implement the expansion strategy in a phased manner.
In the first phase, Attero plans to invest $500 million to scale its Li-Ion battery recycling capacity to 150,000 MT by 2025. During this phase, it plans to set up state-of-art facilities and employ its patented recycling technology to provide sustainable and specialised recycling solutions.
The European facility will be functional by the fourth quarter of 2022, while the USA facility will be up and running by the third quarter of 2023. The Indonesian factory is slated to be functional by the first quarter of 2024, Attero Recycling said.
This capacity expansion will enable Attero to become a global leader in fulfilling Green Metal demand and meet over 15 per cent of the world's demand for Cobalt, Lithium, Graphite, Nickel, amongst others. In tandem with its plans to expand overseas, Attero will continue to ramp up its India operations, it added.
In the second phase, the company targets to increase its capacity to 300,000 MT of Lithium-Ion battery waste per year by 2027.
Attero said it will infuse an additional $500 million investment in the second phase. This additional Capex will be used to enhance the capacity by 150,000 MT through its facilities spread across Europe, USA, India and Indonesia.
Attero utilises proprietary and globally patented Avant-grade recycling technologies and has World's Highest RER (Recycling Efficiency Rate) at 98 per cent. It has been successfully recycling all kinds of end of life Li-Ion batteries (LFP, various NMC, LCO, LTO LMO etc), factory waste, and black mass and extracting pure battery grade Lithium Carbonate, Cobalt, Graphite, Nickel, Manganese among others.
The extracted materials are sold in the market at LME or Fast Market prices ensuring a healthy circular supply chain. Attero's world-class technology makes it the leader in the industry to have gained sustainable competitive superiority.
"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 tons of Lithium-Ion batteries will have reached end-of-life. Through our NASA-recognised technology developed in India and patented globally, we can effectively recycle the materials in a sustainable manner and extract pure metals that can be ploughed back into the economy," said Nitin Gupta, CEO and Co-founder, Attero Recycling Pvt Ltd.
"At Attero, we have been futuristic in our approach and initiated Li-Ion battery recycling at our plant in 2019. Through our consistent efforts and R&D focus we have maintained the highest purity (battery grade) and recovery efficiency (98 per cent) across various battery materials including Cobalt, Graphite, Lithium, Nickel, Manganese while maintaining the lowest Capex and Opex in the world in this space," he said.
"We are very excited about the next phase of our journey and ready to replicate our success beyond India. For our international expansion, we will be collaborating with world-class leaders/partners who can support us in establishing our facilities in the US, Europe and Indonesia markets," Gupta added.
(With inputs from ANI)