Indian battery recycling company Attero Recycling Pvt 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.
The expansion will help Attero, India’s largest lithium-ion battery recycling company, meet over 15% of the world’s demand for cobalt, lithium, graphite and nickel, Gupta said. Attero recycles all types of old lithium-ion batteries and then exports the output to gigafactories manufacturing battery cells outside of India. Attero mainly extracts critical metals such as cobalt, nickel, lithium, graphite and manganese, and its clients in India include Hyundai Motor Co., Tata Motors Ltd. and Maruti Suzuki India Ltd., among others.
Mining those metals, rather than getting them out of second-hand batteries, can cause environmental and social damage, he said, noting that extracting one ton of lithium requires 500,000 gallons of water.
According to the plan shared by Attero, the European facility will be functional by the fourth quarter of 2022, the USA facility will be up and running by the third quarter of 2023 and the Indonesian factory by the first quarter of 2024. Attero at present recycles 3,500 MT of Li-ion waste in India and is expanding the capacity to 11,000 MT by October 2022. The company has plans to scale up capacity in India to 50,000 MT by 2027.
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