Attero

Attero is engaged in carbon footprint reduction services and, through its sustainable recycling processes and environmentally friendly facilities, provides zero carbon footprint.

History

2022: India set aside $1bn to recycle batteries for electric vehicles

In early June 2022, India's largest electronic device processor Attero announced a $1 billion investment in expanding production. These funds were allocated by the Indian authorities. The company will spend it until 2027 to build lithium-ion battery recycling plants in Poland, the United States and Indonesia to meet 15% of global demand for lithium-ion battery recycling.

Attero CEO Nitin Gupta said the company's capacity for June 2022 to process lithium-ion cells is 1,000 tons. Gupt plans to raise them to 11 thousand tons in October 2022 and 300 thousand tons in 2027, of which 50 thousand tons will be in India, satisfying 15% of the global demand for lithium, cobalt, graphite, from less than 0.1% June 2022. Gupta added that Attero has a 10-person R&D team, three of whom have PhDs, and their R&D lab is at least five years ahead of what happens in June 2022 on a commercial basis.

India allocates $1 billion to recycle batteries for electric vehicles

As lithium supply has not kept up with demand, leading to higher battery costs, electric vehicles may become unaffordable to the masses, including consumers in India, but metal mining could cause environmental and social damage globally, Attero said. The main reason for the company's investments in Europe and the United States is that these countries are the main consumers of lithium-ion batteries with a nickel-manganese-cobalt chemical composition, and Attero will expand its processing facilities for nickel, cobalt, graphite and lithium.

Attero was founded in 2008 and as of June 2022 is India's largest electronics processing firm, processing metals such as platinum, tin, nickel, copper and silver. Attero's investor is the International Finance Corporation, a private investment arm of the World Bank.

According to Digitimes Research, global sales of electric vehicles are expected to grow from 6.58 million in 2021 to 30 million in 2025, and the total capacity of batteries operated by such vehicles will reach 1.7 thousand. GWh.^[1]

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