Government Invests in Sustainable Solution to Growing Challenge
In a monumental step towards sustainable development and environmental responsibility, The Technology Development Board (TDB) has forged an alliance with M/s Remine India Private Limited. The partnership aims to establish a state-of-the-art commercial plant for recycling Li-ion batteries and e-waste, using indigenous technology.
The agreement, inked on March 27, 2024, in New Delhi, sees TDB committing a financial assistance of ₹ 7.5 crores, contributing to the overall project cost of ₹ 15 crores. The initiative signifies a significant leap forward in addressing the mounting challenges of e-waste management while championing indigenous technological solutions.
The proposed plant, slated to be located in the Eldeco, SIIDCUL Industrial Area in Sitarganj, Uttarakhand, underscores India’s commitment to sustainable practices. Leveraging technology developed by the Centre for Materials for Electronics Technology (CMET), Hyderabad, the facility will play a pivotal role in recycling Li-ion batteries, thus bolstering the nation’s drive towards self-reliance in critical sectors.
With the exponential rise in e-waste, driven by the proliferation of Lithium-ion Batteries (LIBs) in various sectors including portable electronics and electric vehicles, the need for responsible recycling practices has never been more pressing. The initiative not only addresses environmental concerns associated with improper disposal but also taps into the immense potential of secondary raw materials for domestic cell manufacturing.
According to industry projections, the lithium-ion battery recycling market is poised to witness substantial growth, reaching USD 14.89 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 21.6%. However, despite the promising outlook, a staggering 95% of Li-ion batteries currently end up in landfills, underscoring the urgency for concerted action.
In light of the escalating e-waste crisis and the prevalence of informal recycling practices, Shri Rajesh Kumar Pathak, Secretary of TDB, emphasized the importance of formalizing recycling initiatives. He remarked, “India ranks 3rd globally in e-waste generation, necessitating concerted efforts to address the issue. TDB’s support for this endeavor will facilitate the integration of informal recyclers into the formal sector, fostering a circular economy.”
The collaborative endeavor between TDB and Remine India signals a paradigm shift towards responsible e-waste management, paving the way for a greener and more sustainable future.