India’s largest and world’s leading li-ion battery recycling company Attero Recycling said Tuesday that it will invest $1 billion by 2027 for global expansion.

Staying committed to its vision of utilising technology to attain power zero waste through circular economy, the firm said in a statement that it plans to expand its footprint across the Europe, United States and Indonesia markets.

With a stronghold in the Indian market, Attero Recycling said it plans to set up operations and mega recycling facilities in Poland (Europe), Ohio (United States), and Indonesia, for which it has earmarked an investment of $1 billion.

Through this investment, Attero Recycling aims to recycle more than 3,00,000 metric tonnes (MT) of lithium-ion battery waste per year by 2027 in its facilities spread across Europe, United States, India and Indonesia.

Attero Recycling’s expansion plan will be rolled out in a phased-out manner. As a part of the first phase, Attero Recycling will invest $500 million to scale its li-ion battery recycling capacity to 150,000 MT by 2025.

During this phase, it will be setting up state-of-art facilities and employing its patented recycling technology to provide sustainable and specialised recycling solutions in these international markets.

The European facility will be functional by the fourth quarter of 2022, while the United States 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.

This capacity expansion will enable Attero Recycling to become a global leader in fulfilling green metal demand and meet over 15 percent of the world’s demand for cobalt, lithium, graphite, nickel, amongst others.

In tandem with its plans to expand overseas, Attero Recycling will continue to ramp up its India operations.

In phase two, to reach its target of 300,000 MT of lithium-ion battery waste per year by 2027, Attero Recycling will infuse an additional $500 million. This additional capital expenditure (capex) will be used to enhance the capacity by 150,000 MT through its facilities spread across Europe, United States, India and Indonesia.

Renowned for its processes, Attero Recycling is the sole company to profitably recycle all kinds of end of life li-ion batteries (LFP, various NMC, LCO, LTO LMO etc) and extract critical metals including cobalt, nickel, lithium, graphite and manganese.

The firm utilises proprietary and globally patented Avant-grade recycling technologies and has world’s highest recycling efficiency rate (RER) at 98 percent. 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.

“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. 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 research and development (R&D) focus we have maintained the highest purity (battery grade) and recover efficiency (98 percent) across various battery materials including cobalt, graphite, lithium, nickel, manganese while maintaining lowest capex and operating expenditure (Opex) in the world in this space. This is also reflected in our financial performance over the years,

“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 United States, Europe and Indonesia markets,” said Nitin Gupta, Chief Executive Officer and Co-Founder, Attero Recycling.

The company also aims to hire more than 100 people by the end of 2022, with plans to increase the number to 200 by the end of 2023.

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