Recyclekaro to build a Nickel metal plant
The demand for nickel is anticipated to increase significantly by over 60% by 2040 due to the rapid use of electric vehicles.
Mumbai- RecycleKaro Pvt Ltd., a Lithium-ion battery recycler has announced plans to build a 100 crore nickel metal plant in Maharashtra that will adhere to the circular economy's value chain and address the country's growing demand for lithium-ion batteries for electric vehicles. It also intends to solve the low global nickel inventory and lessen reliance on China's market domination in order to support India's self-reliance (Atmanirbhar).
Despite not now being a big user of nickel, the lithium-ion battery sector is anticipated to see a notable increase in demand for nickel for lithium-ion batteries, up to 10 times, by 2030. The demand for nickel is anticipated to increase significantly by over 60% by 2040 due to the rapid use of electric vehicles. India's position inside the global lithium-ion value chain will be strengthened by RecycleKaro's innovation in this nickel production facility.
The site, which spans 17 acres, will include a facility that can produce nickel metal from used lithium-ion batteries as well as nickel oxide. Through a proprietary temperature-controlled chemical leaching process, this cutting-edge technology recovers metals from black masses of discarded lithium-ion batteries and nickel hydroxide to produce nickel metal compounds with higher purity. A total of 1200 tonnes of nickel metal are anticipated to be produced yearly by the factory, with 30% of that production slated for usage in the fiscal years 2023–2024. By the end of the year, RecycleKaro hopes to start manufacturing and reach an annual output capacity of up to 1200 tonnes of nickel metal. The approximate 45 KTPA demand for nickel in India is fully satisfied by imports.
Mr. Rajesh Gupta, Founder and Director of RecycleKaro said, “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 isn’t just an investment; it’s a testament to our dedication to shaping an eco-conscious tomorrow.”
According to the new unit volumes specified, RecycleKaro will develop the Nickel Metal Plant and a large number of employment opportunities. These possibilities will encompass back-office functions, the primary plant, and more. The company's mission to create jobs and support a strong EV ecosystem is in line with India's "Make in India" agenda.
RecycleKaro has made major strides that are poised to reshape the recycling business thanks to its imaginative strategy and unrelenting pursuit of excellence. The business has started a successful endeavor to recover valuable metals from used auto catalysts.
