New Delhi, March 27, 2024 – The Technology Development Board (TDB), under the Department of Science & Technology, has announced a monumental collaboration with M/s Remine India Private Limited. This partnership is set to pioneer the establishment of a state-of-the-art recycling facility for lithium-ion (Li-ion) batteries and electronic waste (e-waste) in Uttarakhand, marking a significant leap towards sustainable environmental practices.
The agreement, signed in New Delhi on March 27th, details TDB’s commitment to allocate ₹7.5 crores in financial aid towards the project’s total cost of ₹15 crores. The initiative will see the development of a commercial plant at the Eldeco, SIIDCUL Industrial Area in Sitarganj (District Udham Singh Nagar), utilizing indigenous technology formulated by the Centre for Materials for Electronics Technology (CMET), Hyderabad.
This venture is aimed at addressing the critical environmental challenges posed by the disposal of spent Li-ion batteries, which have seen a surge in demand due to their widespread use in portable electronics, electric vehicles, and renewable energy storage systems across the globe. The project is not only about mitigating environmental risks but also about fostering a circular economy by transforming waste into valuable secondary raw materials for cell manufacturing within India.
The recycling market for Li-ion batteries is on an upward trajectory, anticipated to hit USD 14.89 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 21.6%. Despite the vast potential, a staggering 95% of these batteries currently end in landfills, with only a mere 5% being recycled. This project aims to drastically change these statistics by promoting sustainable recycling practices that could significantly reduce the environmental and health hazards associated with e-waste disposal.
Rajesh Kumar Pathak, Secretary, TDB, emphasized the urgency of addressing India’s growing e-waste challenge, stating, “India ranks third globally in e-waste generation. It’s imperative that we escalate our efforts to tackle this issue. Through supporting this initiative, TDB aims to bridge the gap between informal and formal recycling sectors, thus paving the way for a more sustainable and circular economy.”
This collaboration represents a forward-thinking approach to environmental stewardship and economic development, setting a precedent for future projects aimed at solving pressing global environmental issues.
