New Delhi: For the sustainable development and environmental conservation, the Technology Development Board (TDB) has collaborated with M/s Remine India Private Limited to establish a commercial plant for recycling Li-ion batteries and e-waste. The agreement, signed on 27th March 2024 in New Delhi, marks a pivotal step towards harnessing indigenous technology for responsible waste management.
Under the agreement, TDB has committed a financial assistance of ₹7.5 crores, contributing to the total project cost of ₹15 crores. The initiative aims to address the pressing need for efficient recycling of lithium-ion batteries and electronic waste, leveraging homegrown technology developed by the Centre for Materials for Electronics Technology (CMET), Hyderabad.
The project, to be located at Eldeco, SIIDCUL Industrial Area in Sitarganj, Uttarakhand, underscores India’s commitment to sustainable practices and resource conservation. By establishing a commercial plant for recycling Li-ion batteries and e-waste, the initiative seeks to capitalize on the growing demand for secondary raw materials within the country’s burgeoning electronics and electric vehicle sectors.
The recycling of lithium-ion batteries holds immense potential for value creation and resource optimization. With the global lithium-ion battery recycling market projected to reach USD 14.89 billion by 2030, there is a pressing need to develop robust recycling infrastructure to mitigate environmental risks associated with battery waste disposal.
Despite the exponential growth in the adoption of lithium-ion batteries, a staggering 95% of spent batteries end up in landfills, highlighting the urgency to enhance recycling efforts. By establishing a state-of-the-art recycling plant, TDB and Remine India aim to promote sustainable practices, reduce carbon footprints, and foster a circular economy model.
Rajesh Kumar Pathak, Secretary of TDB, emphasized the importance of curbing e-waste generation and transitioning towards formal recycling mechanisms. He stated, “India ranks third in the world in terms of e-waste generation, necessitating concerted efforts to address the issue. TDB’s support for this initiative will facilitate the integration of informal recyclers into formal recycling processes, contributing significantly to the circular economy.”