Incidentally, the company expects its first European lithium-ion processing plant to become operational by the end of Q3 next year.
SEATTLE (Scrap Monster): Leading e-waste recycling firm, Attero Recycling, expects bulk of its total revenues to come from lithium-ion battery recycling. The company anticipates approximately $2 billion in revenues over the next five years, with lithium-ion battery recycling g business anticipated to account for almost 65%.
RELATED NEWS:
Top E-Waste Recycling Firm Announced $1 Billion Investment
E-Waste Recycling Major Targets to Double Capacity by Next Year
According to Nitin Gupta, Founder and CEO, Attero Recycling, the share of revenues of lithium-ion business is expected to surge from current level of 10% to 65% over the next five years. The business is growing at 500% annually, he added. Incidentally, the company expects its first European lithium-ion processing plant to become operational by the end of Q3 next year.
Attero Recycling uses proprietary, low-carbon footprint technologies to recover battery grade metals including cobalt, lithium carbonate, graphite and nickel from used batteries, which in turn are used by leading automobile original equipment manufacturers (OEMs) across the world to manufacture new battery cells.
Over the period of next five years, the company plans to invest around INR 7,500 crore towards establishing up to 3 lakh tonnes of lithium-ion battery processing capacity. 35% of the capacity will be set up in Europe and the U.S. each, 20% in India and the remaining 10% in Asia, excluding India.
Image and article originally from www.scrapmonster.com. Read the original article here.