Currently, only 5% of Li-ion batteries are recycled, with the rest ending up in landfills. This plant will add to the lithium-ion battery recycling market, expected to reach $14.89 billion by 2030, with a CAGR of 21.6%.
The Technology Development Board (TDB) signed an agreement with Remine India Private Limited to set up a commercial plant for recycling Li-ion batteries and e-waste using indigenous technology on March 27, 2024, in New Delhi. TDB will provide financial assistance of ₹7.5 crores for the project, which has a total cost of ₹15 crores.
The project aims to establish a facility for recycling Li-ion batteries and e-waste using indigenous technology developed by the Centre for Materials for Electronics Technology (CMET) in Hyderabad. The recycling of Li-ion batteries is important for providing secondary raw materials for cell manufacturing in India.
The growing use of Li-ion batteries in various applications has led to increased imports of e-waste from spent batteries. Recycling these batteries is essential to avoid environmental and safety hazards associated with landfilling and incineration. The lithium-ion battery recycling market is expected to reach $14.89 billion by 2030, with a compound annual growth rate (CAGR) of 21.6%. Currently, only 5% of Li-ion batteries are recycled, with the rest ending up in landfills.
Addressing the issue of battery waste and the dominance of the informal sector in e-waste management is crucial for environmental and economic reasons. Efficient and eco-friendly recycling methods are needed to mitigate supply side risks, reduce carbon footprints, and contribute to a circular economy.
The plant will be located in the Eldeco SIIDCUL Industrial Area in Sitarganj, Uttarakhand. At the event, Rajesh Kumar Pathak, Secretary of TDB, emphasised the need for significant efforts to address e-waste generation in India and said, “India is 3rd in the world in terms of e-waste generation and significant efforts are required to curb the issue. TDB supporting this initiative would help to engage informal recyclers to connect with formal recyclers thereby contributing towards circular economy.”
