LICO said by 2027 it plans to recycle batteries equivalent to 2,00,000 metric tonnes of electric cars annually.Lithium-ion battery recycling and refurbishing firm LICO Materials on Friday announced the inauguration of a battery recycling facility in Bengaluru and said it will invest INR 250 crore in its downstream hydrometallurgy plant in next two-three years. The 4 GWh per annum in-feed capacity plant in Bengaluru will address the challenges of securing a stable supply of critical materials and contribute to India's ambition of achieving 30% electric vehicle (EV) adoption by 2030, LICO said.
The company said it aims to scale up capacity at the facility to 10 GWh in the next 3-4 years.
With India's EV industry expected to grow by 250% and energy storage sector to reach 42GW by 2032, recycling of used batteries will play a crucial role in recovering critical minerals to support the battery circular economy, according to the company.
"The new facility marks a significant milestone in our journey to redefine lithium-ion battery recycling and repurposing in India. As we scale up our operations, we aim to bridge the gap in the supply chain for critical battery materials, reduce dependence on imports, and contribute to India's clean energy transition," said Gaurav Dolwani, Chief Executive Officer at LICO Materials.
The zero-liquid-discharge facility is capable of recycling and repurposing 17,500 metric tonnes of battery.
LICO said by 2027 it plans to recycle batteries equivalent to 2,00,000 metric tonnes of electric cars annually.
"LICO has completed a feasibility study and is finalising plans for a downstream project to build a hydrometallurgy plant with an investment of INR 250 crore in next 2-3 years," Dolwani said.
This facility will recover metal salts from the black mass currently produced, achieving battery-grade purity, the company said, adding, the recovered metal salts will be supplied to gigafactories and energy storage systems to close the loop in the battery materials supply chain.
