Top E-Waste Recycling Firm Announced $1 Billion Investment

SEATTLE (Scrap Monster): Attero Recycling- the largest e-waste recycling company in India announced plans to spend over $1 billion in the next five-year period. The investment will add new plants in Poland, Ohio and Indonesia during the current year. These plants will mainly tap the booming electric vehicles market.

According to Nitin Gupta, CEO, Attero Recycling, the company plans to launch an initial public offering (IPO) in about a year, which will be listed either in India or in the U.S. within the next three years.

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E-Waste Recycling Major Targets to Double Capacity by Next Year

The company aims to lift its lithium-ion battery waste processing capacity from current levels of 11,000 tonnes per annum to at least 300,000 tonnes per annum by 2027. This will enable the company meet 15% of the global demand for lithium, cobalt and graphite. Lithium-ion battery recycling not only solves waste problem, but also help it to become a major seller of green metals, said the company.

Attero’s Poland factory will be operational by Q4 this year, while the Ohio and Indonesia facilities will go online during Q3 2023 and Q1 2024 respectively. The company plans to expand its global workforce by additional 100, including in the U.S. and Europe. It expects the total sales to double this year to touch $55 billion this year.