E-Waste Management Firm Attero to Invest $1 Billion by 2027, to Expand Operations in US, Europe, Indonesia
By Nidhi Singal
Recycling all kinds of end-of-life Lithium-Ion batteries, Noida-headquartered Attero is expanding its footprint globally by expanding operations in Europe, US and Indonesian markets. With an investment of $1 billion in the next five years, the company plans to recycle 3,00,000 metric tonnes (MT) of Lithium-Ion battery waste per year by 2027 across all its facilities including India. Started as an e-waste management company, Attero commenced battery recycling three years ago.
Nitin Gupta, CEO and co-founder, Attero told Business Today, “We are looking to expand our operations and mega recycling facilities in Poland (Europe), Ohio (USA), and Indonesia, for which we have earmarked an investment of $1 billion. Part of this funding will come from internal accruals, a part from external debt, and part from equity.”
Of the total capacity to recycle 3,00,000 million tonnes (MT), over 50,000 MT per annum will be in India, and about 25,000 MT per annum in Indonesia. The capacity in Europe and US will be equally split and will in between 1,10,000-1,15,000 MT per annum.
Photo courtesy of Jilbert Ebrahimi.
Source: BusinessToday.In (link opens in a new window)
- impact investing, recycling, waste