Delhi-based Namo E-waste Management, a recycler cum PRO(Producer Responsibility Organisation), which extracts metals such as aluminum, copper, brass and zinc from e-waste products that include computers, motherboards, mobile phones and server boards is now planning to scale the extraction to precious metals. “We intend to set up a precious metal recovery plant for extraction of gold, palladium, platinum, etc., from e-waste. Currently, no solution is available in India as this plant requires huge investment and consistent inflow of raw material,” said Akshay Jain, managing director, Namo E-Waste. The e-waste recycling start-up wants to bring in the technology to start the extraction of precious metals for the first time in India.
Worldwide, there are only five global recyclers which extract precious metals from e-waste material. As per the company, in the past a few Indian e-waste recyclers attempted to start extraction of precious metals but in the absence of proper collection of e-waste and technology it could not be done. Currently, the precious metals e-waste is exported to refineries outside India for the recovery of metals such as gold, palladium, platinum, tantalum, etc. These metals are present in great volumes in e-waste and if recovered, can translate into big earnings.
Launched in 2016, Namo extracts non-valuable metals of around 3400 metric tonnesper annum. Revenue has surged from `30 lakh in 2015-16 to Rs 450 lakh in 2017-18. It claims to have recycled over 6000 metric tonnes of e-waste in the last 30 months. As the technology for this requires huge funding and resources, it is looking for potential investors and other types of alliances in terms of providing technology and collection of e-waste. The proposed investment will be about $3 million. “We will be importing this technology from Europe.
It will be based on extracting metals through incineration and electrolysis method. The entire process is controlled and there are no harmful emissions from the process,” he said. Currently, Namo has 90% of its business coming from the B2B sector. It works with 17 exclusive collection partners across India and buys e-waste material for its recycling plant in Faridabad, Haryana.
By: Sandhya Michu