Metastable Materials, a pioneering Lithium-ion battery recycling startup with a mission to transform the recycling industry through cutting-edge technology. Founded in 2021 by two visionary alumni of IIT Roorkee—Shubham Vishwakarma and Manikumar Uppala—the company stands at the forefront of sustainable innovation.
As Finance Minister Nirmala Sitharaman is set to present the budget on 1st February 2024, Mr. Shubham Vishvakarma, Co-Founder, Chief of Process Engineering would like to share his expectations on the same.
“As we anticipate the 2024 budget announcement, we hope for a forward-looking budget that reflects India’s commitment to sustainability and technology advancement. A large volume of India’s end-of-life Lithium-ion batteries is exported globally for recycling or just processed as an intermediate black mass and then exported. Hence, massive R&D investments are required, particularly to create strong competencies and lab testing facilities for the proper end-of-life Lithium-ion battery recycling. This not only contributes to responsible environmentalism but also nurtures a talented pool of individuals.
Another area, where we are hopeful for is the Production-Linked Incentive (PLI) and it’s extension to battery recycling. This would also be a strategic approach as by expanding the range of the scheme beyond just the Advanced Chemistry Cell manufacturing, we open up the opportunity to capture the entire value chain. This extension will incentivize the setting up of homegrown recycling firms instead of shipping away the dead batteries.
We also recommend that the recycling of Lithium-ion batteries be incorporated into the Carbon Credit Trading Scheme. This inclusion, in particular for negative-value battery chemistries feasibility will provide substantial support to India’s position in the carbon credit markets and also demonstrates our continued dedication to sustainable solutions.”
Covered By: Mobility India / Metastable Materials
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