Attero to Invest Over Rs 8,000 Crore in the Next 5 Years to Expand E-Waste and Battery Recycling Capacity
Attero, a firm that recycles batteries and electronic waste, expects to invest about Rs 8,300 crore over the next five years in order to increase capacity, according to CEO and co-founder Nitin Gupta. Up to 1,44,000 tonnes of electronic garbage, or “e-waste,” and 15,000 tons of lithium-ion batteries can currently be recycled annually by the company.
“In the next five years, we will obviously be investing roughly around USD 1 billion overall, including all forms of capital—debt, equity and sort of other non-diluted forms of capital,”
Gupta told PTI.
According to him, the business is expanding its capacity progressively while experiencing 100% yearly growth.
“A greenfield facility in Europe will come up in Poland. Work has already started there. In India, we are building another greenfield facility. We are finalizing the space in Andhra Pradesh/Jharkhand. Our e-waste (recycling) capacity will get to roughly around 4,15,000 tonnes per annum. Our battery (recycling) capacity will broadly reach around 50,000 tonnes per annum in a year,”
Gupta said.
By 2027, the company hopes to generate revenue of over USD 2 billion, or over Rs 16,500 crore.
“Industry is growing at roughly around 30 per cent per annum. We are growing at more than 100 per cent YoY. We had revenue of around Rs 285 crore in financial year 2023 and Rs 440 crore in FY24. This year we expect to cross Rs 1,000 crore in revenue. To achieve the USD 2 billion target, we just need to invest a few hundred crores to ramp up capacity,”
Gupta said.
According to him, every other Indian business creates an intermediary product that Attero or businesses outside of India refine further.
“Globally, our competitors are sitting at less than 75 per cent extraction efficiency, whereas we are at 98 per cent. Our capex requirement for extraction is around USD 3,250 per tonne, whereas the global capex per tonne is between USD 5,500 to 10,000. We have the lowest opex in the world,”
Gupta said.
In comparison, the closest competitor of Attero, according to him, has a market share of less than 10%, while Attero’s is 25% and expected to reach 35% the following year.
Content Credit: The Economic Times
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