Lico Materials opens battery recycling facility in Bengaluru
The 4 GWh per annum in-feed capacity plant in Bengaluru will address the challenges of securing a stable supply of critical materials and contribute to India's ambition of achieving 30 per cent electric vehicle (EV) adoption by 2030, LICO said.
Press Release, 16 December 2024
Lithium-ion battery recycling and refurbishing firm LICO Materials on Friday (13 Nov’24) announced the inauguration of a battery recycling facility in Bengaluru.
Lico Materials has a reduced waste and zero-waste recycling process, enabling recovery of up to 92% of materials found in electric vehicle (EV) batteries. These recovered materials are reintegrated into the EV battery supply chain for reuse. Lico Materials generates revenue by selling recycled minerals to battery manufacturers and sourcing raw materials.
Lico Materials has 4Gwh recycling facility in Bengaluru which it intends to scale it to 10 GWh by 2027.
Lico Materials was founded on October 22, 2021 by its CEO, Gaurav Dolwani, who has played a pivotal role in establishing and leading the company’s initiatives in lithium-ion battery recycling and refurbishment.
