RecycleKaro, engaged in lithium-ion battery recycling, has planned to set up a facility in Maharashtra to recycle scrap nickel.
Coming up with envisaged investment of Rs.100 crore, the factory, spread across 17 acres, will incorporate a plant capable of producing nickel metal from scrap lithium-ion batteries as well as scrap nickel cadmium (Ni-Cd) batteries.
The proposed plant will also extract nickel from nickel hydroxide that is a hazardous waste generated from several industrial processes.
This 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, a release from RecycleKaro said.
The plant is expected to produce 1,200 tonnes of nickel metal annually, with 30 per cent of the production allocated for use in ongoing FY24. RecycleKaro plans to commence production by the end of 2023 and is aiming at an output capacity of up to 1,200 tonnes of nickel metal each year.
India’s current annual demand for nickel is around 45,000 tonnes and this is met entirely through imports.
High demand foreseen
The lithium-ion battery industry though not currently a significant consumer of nickel, is expected to be a big consumer of nickel in the coming years. Between now and 2030, the demand for nickel for lithium-ion batteries is expected to grow ten-fold, the release said.
The surge in electric vehicle adoption is poised to drive a substantial uptick in nickel demand, projected to rise by over 60 per cent by 2040. By pioneering this nickel production plant, RecycleKaro aims to strengthen India’s position within the global lithium-ion value chain, the release noted.
Eco-conscious tomorrow
According to Rajesh Gupta, Founder & Director, RecycleKaro, “Establishing a state-of-the-art nickel metal plant marks a significant milestone not only for our organization but for the entire EV industry. As we stand at the crossroads of a sustainable future, the demand for EVs is poised to surge, and with it, the need for crucial components like nickel metal for lithium-ion batteries. This nickel plant is a testament to our dedication to shaping an eco-conscious tomorrow.”
Featured photograph showing an e-waste recycling plant of Recyclekaro is for representation only.
