Attero Recycling announces global expansion policy

Attero Recycling announces its global expansion policy that will be carried out in a phased manner. The company plans to invest ~Rs 7,700 crore in the next few years.

attero recycling global expansion

Li-Ion battery recycling company, Attero Recycling announces its global expansion policy. Attero plans to expand its footprint across Europe, US, and Indonesia markets.

Attero plans to set up operations and recycling facilities in Poland (Europe), Ohio (USA), and Indonesia, and will invest USD 1 Billion (~Rs 7,700 crore). With this investment, Attero plans to recycle more than 3,00,000 MT of Lithium-Ion battery waste per year by 2027 in its facilities in Europe, US, India, and Indonesia.

Attero Recycling’s global expansion plan will be done in a phased manner. As a part of the first phase, Attero will invest USD 500 million (~Rs 3800 crore) to scale its Li-Ion battery recycling capacity to 1,50,000 MT by 2025.

The European facility will be functional by Q4 2022, while the USA facility will be up and running by the Q3 of 2023. The Indonesian factory is scheduled to be functional by Q1 of 2024. This will help Attero meet over 15% of the world’s demand for Cobalt, Lithium, Graphite, and Nickel, amongst others.

In its second phase of expansion, Attero aims at recycling 3,00,000 MT of Lithium-Ion battery waste per year by 2027. Attero will invest an additional USD 500 million (~Rs 3800 crore). This additional Capex will be used to scale up the capacity by 1,50,000 MT through its facilities in Europe, USA, India, and Indonesia.

Nitin Gupta, CEO and Co-founder, Attero says, “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.”

He added, “Through our consistent efforts and R&D focus we have maintained the highest purity (battery grade) and recover efficiency (98%) across various battery materials including Cobalt, Graphite, Lithium, Nickel, and Manganese while maintaining the lowest Capex and 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 US, Europe and Indonesia markets.”

The investment comes at a time when the automotive industry is moving towards electric vehicles, and recycling material is key. The company is also looking at doubling its revenue Rs 435 crore this financial year.

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