LICO Materials and Sanvaru Technology have announced a strategic partnership aimed at addressing the challenges of recycling battery materials. This initiative is a vital step towards reducing India’s dependency on imports of precious minerals, thereby contributing to the nation's energy independence and economic development.
India is lacking domestic sources of critical minerals required for lithium-ion batteries, and has identified 30 such essential minerals crucial for its economic growth and national security. By recovering these minerals from recycled batteries, the partnership between LICO and Sanvaru is expected to play a significant role in reducing import dependency and supporting the local battery manufacturing industry.
LICO Materials operates a cutting-edge end-of-life Lithium-Ion Battery Recycling and Refurbishing plant in Navi Mumbai, Maharashtra, with another facility set to open in Bengaluru, Karnataka. These facilities have a combined recycling capacity of 4 GWh per annum. Through this collaboration, Sanvaru will contribute a capacity of 450 MWh over the next three years, further bolstering the recycling efforts.
This partnership aligns with the Government of India's mission to achieve net-zero emissions by 2070, reinforcing the commitment to sustainable practices within the electric vehicle (EV) ecosystem. By focusing on recycling and refurbishing, both companies are taking concrete steps towards reducing the environmental impact of battery waste and promoting a sustainable future.
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