The recycling company focusing on developing sustainable circular economy solutions in the lithium-ion battery supply chain to recover critical minerals, Lico Materials and Karo Sambhav, an industry leader in designing and implementing transformative Circular and EPR solutions, have signed an MoU to collect and recycle lithium-ion batteries and strengthen the circular economy of India.
Significant advancements in the automotive industry are happening with the world going sustainable. With millions of EVs planned to be rolled out, there is an alarming concern about end-of-life lithium-ion batteries. Recycling these batteries serves the dual purpose of efficient waste management and generating a secondary stream of sustainably recovered critical minerals for reuse.
AL Circle’s latest industry-focused report, “Sustainability in the Global Aluminium Industry”, reveals that recycling creates resources that can be used to develop new goods from recyclable materials. Other than priceless natural resources, creating new goods from recycled materials contributes to energy conservation.
LICO Materials has recently inked strategic agreements with Karo Sambhav, where Karo Sambhav will collect, store, and transport lithium-ion batteries to LICO recycling facilities. Karo Sambhav will also bring their experience and expertise in Client Servicing for EPR for battery supply partners for LICO. LICO will recover metal salts through recycling and supply the same to the battery manufacturing and EV industry for re-utilization in batteries, reducing dependence on critical minerals imports and mining.
Talking about the collaboration, Gaurav Dolwani, the CEO of LICO Materials Pvt. Ltd., said, “Sustainability is a collective responsibility and through collaboration with Karo Sambhav, we are taking another step to ensure that our planet remains green, and we create more resources for domestic manufacturing. At LICO Materials, we have a roadmap to invest Rs 500 crores by FY25 to create a black mass refining plant with a 10000 metric tonnes per annum capacity. The LICO expansion and Karo Sambhav partnership will generate a systematic supply chain to ensure lithium-ion batteries are recycled correctly.”
Pranshu Singhal, the Founder of Karo Sambhav, added, “Karo Sambhav has been setting up a grassroots ecosystem which enables the adoption of circular practices. We strongly believe our partnership with LICO shall enable the development of a well-governed circular solution for collecting and recycling batteries waste”.
LICO Materials is a recycling company with a focus to create a sustainable circular economy solution in the lithium-ion battery supply chain for the recovery of critical minerals. LICO Materials works with several electric vehicle OEMs and Battery Pack Manufacturers in India.
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