RecycleKaro to Invest 100 Crore in a Nickel Metal Plant in Maharashtra

RecycleKaro to Invest 100 Crore in a Nickel Metal Plant in Maharashtra


Investment by RecycleKaro in a Nickel Metal Factory

RecycleKaro, a major leader in environmentally friendly lithium-ion battery recycling, reveals its ambitious ambitions to build a nickel metal plant in Maharashtra with a sizeable investment of 100 crores. This project demonstrates RecycleKaro’s dedication to completing the circular economy’s value chain and supplying the country of India’s growing demand for lithium-ion batteries. It also intends to solve the low global nickel inventory and lessen reliance on China’s market domination in order to support India’s self-reliance (Atmanirbhar).

Demand for Nickel-Ion Batteries

While not now being a big user of nickel, the lithium-ion battery sector is anticipated to see a notable increase in demand for nickel for lithium-ion batteries, up to 10 times, by 2030. The demand for nickel is anticipated to increase significantly by over 60% by 2040 due to the rapid use of electric vehicles. India’s position inside the global lithium-ion value chain will be strengthened by RecycleKaro’s innovation in this nickel production facility.

Power of Plant

The complex, which spans 17 acres, will include a facility that can produce nickel metal from used lithium-ion batteries as well as nickel oxide. With a proprietary temperature-controlled chemical leaching process, this cutting-edge technique removes metals from a black mass of used lithium-ion batteries and nickel hydroxide, producing a higher-purity nickel metal complex. A total of 1200 tonnes of nickel metal are anticipated to be produced yearly by the factory, with 30 percent of that production slated for usage in the fiscal years 2023–2024. By the end of the year, RecycleKaro hopes to start manufacturing and reach an annual output capacity of up to 1200 tonnes of nickel metal. The approximate 45 KTPA demand for nickel in India is fully satisfied by imports.

Mr. Rajesh Gupta, Founder and Director of RecycleKaro, commented, “Establishing a state-of-the-art Nickel metal plant marks a significant milestone not only for our organization but for the entire electric vehicle (EV) industry. As we stand at the crossroads of a sustainable future, the demand for EVs is poised to surge, and with it, the need for crucial components like Nickel metal for lithium-ion batteries. This Nickel plant isn’t just an investment; it’s a testament to our dedication to shaping an eco-conscious tomorrow.”

The Mission and Vision of RecyclesKaro

According to the new unit volumes specified, RecycleKaro will develop the Nickel Metal Factory and a large number of employment opportunities. These possibilities will encompass back-office functions, the primary plant, and more. The company’s mission to create jobs and support a strong EV ecosystem is in line with India’s “Made in India” agenda.

RecycleKaro has made major strides that are poised to reshape the recycling business thanks to its imaginative strategy and unrelenting pursuit of excellence. The business has started a successful endeavor to recover valuable metals from used auto catalysts.

About RecycleKaro

Concerning RecycleKaro Recycling Renowned for managing e-waste and recycling lithium-ion batteries is Karo. The business is a leader in the extraction of lithium from used batteries and uses cutting-edge, eco-friendly techniques to recover valuable metals from batteries, including lithium, cobalt, nickel, manganese, and other elements. Lithium-ion batteries, which power a variety of applications ranging from electric vehicles to renewable energy storage systems, are fundamentally made up of these crucial materials.

RecycleKaro’s capacity to recover over 90% of essential components from energy storage systems, supported by its Zero Waste Discharge factory, is a noteworthy accomplishment demonstrating the company’s persistent dedication to environmental responsibility. RecycleKaro has focused on research, development, and innovation for 13 years and has created the infrastructure and technology to recycle and reuse 608 MWh of battery capacity per year, with a goal of reducing 350 metric tons of greenhouse gas emissions by 2026.

With clients like Bajaj Auto, Ather Energy, HeroMotoCorp, and Tata Motors, the company works with battery producers, automakers, and renewable energy companies on a global scale. RecycleKaro has 13+ years of experience recycling e-waste and has competence in removing precious metals including gold, silver, platinum, and palladium. This knowledge is in addition to recycling lithium-ion batteries. With more than 1200 collecting touchpoints and 1350 completed projects, RecycleKaro establishes itself as a dependable and effective provider to the market.

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