The Technology Development Board (TDB), under the Department of Science and Technology (DST), on Tuesday said it has partnered with startup Remine India to develop a commercial plant for recycling lithium-ion (Li-ion) batteries and e-waste using indigenous technology in Uttarakhand.
Through the agreement signed recently, the TDB pledged financial assistance of Rs. 7.5 crore out of the total project cost of Rs.15 crore, said the Ministry of Science & Technology, in a statement.
“India is third in the world in terms of e-waste generation and significant efforts are required to curb the issue. TDB supporting this initiative would help to engage informal recyclers to connect with formal recyclers thereby contributing towards a circular economy,” TDB Secretary Rajesh Kumar Pathak said.
The new recycling plant will be set up at Eldeco in Sitarganj’s SIIDCUL Industrial Area in the Udham Singh Nagar district.
The efficient recycling of Li-ion batteries, based on the indigenous technology developed by the Centre for Materials for Electronics Technology (CMET), Hyderabad, serves as a vital source of secondary raw materials for cell manufacturing within the country, said the Science Ministry.
It pointed out that the rising “imports of e-waste stemming from the disposal of spent Lithium-ion Batteries (LIBs) are driven by their growing utilization in portable electronics, electric vehicles, and global renewable energy storage systems”.
The need for recycling initiatives is imperative even as more and more e-waste is piling up in landfills and incineration, posing serious environmental and safety concerns, the ministry said.
“The potential for value creation through the retrieval of metals from spent LIBs has spurred interest in recycling e-waste generated by these batteries. The lithium-ion battery recycling market size is projected to reach $14.89 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 21.6 percent, up from $3.79 billion in 2021. Despite this, a significant 95 percent of Li-ion batteries currently end up in landfills, while only 5 percent undergo recycling and reuse,” it added.
The ministry also raised concerns about the dominance of the informal sector in the e-waste scenario, stating that it can have more adverse environmental and economic implications.
“Efficient and environmentally friendly recycling methods are imperative to address the escalating issue of battery waste, mitigate migrant supply side risks related to critical elements, and reduce carbon footprints,” it said.
Courtesy: “IANS”
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