RecycleKaro pumps Rs 100 crore to set up Nickel Metal facility in Maharashtra

financialexpress.com:

RecycleKaro, one of the leading players in sustainable and lithium-ion battery recycling has announced plans to establish a Nickel Metal plant with an investment of Rs 100 crore in Maharashtra.

The company says this initiative shows its commitment to completing the value chain of a circular economy and meeting the surging demand for lithium-ion batteries in India’s electric vehicle market. It also aims to contribute to India’s self-reliance (Atmanirbhar) by addressing the low global inventory of nickel and reducing dependence on China’s dominance in the sector.

The lithium-ion battery industry, although not currently a significant consumer of nickel, is expected to witness a remarkable increase in demand for nickel for lithium-ion batteries, up to 10 times by 2030. The surge in electric vehicle adoption is poised to drive a substantial uptick in nickel demand, projected to rise by over 60 percent by 2040. Through the nickel production plant, RecycleKaro aims to strengthen India’s position within the global lithium-ion value chain.

The facility spread across 17 acres, will incorporate a plant capable of producing Nickel Metal from scrap lithium-ion batteries and nickel hydroxide. RecycleKaro claims its innovative technology extracts metals from black mass of scrap lithium-ion batteries and nickel hydroxide through an indigenous temperature controlled, chemical leaching process, resulting in nickel metal compound of higher purity.

The plant is expected to produce 1,200 tonne of nickel metal annually, with 30 percent of the production allocated for use in FY2023-24. It estimates that India’s demand for nickel at present is approximately, 45 KTPA, which is entirely met through imports.

Rajesh Gupta, Founder and Director,