ANI PR Wire
15 Sep 2023, 23:14 GMT+10
PNN
Mumbai (Maharashtra) [India], September 15: In a significant development, India's pioneering E-waste Recycling Company, Ecoreco, has joined forces with the Centre for Materials for Electronics Technology (C-MET), under the Ministry of Electronics & Information Technology (MeitY), Government of India. This strategic partnership aims to introduce cutting-edge technology for the efficient recovery of valuable elements from Li-ion Batteries, making a positive impact on both the environment and the nation's resource sustainability. This technology will enable Ecoreco to retain valuable metals within India, reducing the need for export and contributing to the domestic manufacturing sector.
With this innovative technology now at their disposal, Ecoreco is primed to recover valuable elements such as cobalt, nickel, manganese, and more from Li-ion Batteries. This achievement marks a significant departure from the previous practice of exporting the black mass for element recovery. Instead, India is poised to develop its own capacity for retaining these precious metals, contributing to the nation's self-reliance and promoting the manufacturing of new products within the country.
Recycling metals and other natural resources from spent batteries through mechanical and metallurgical processes represents the most sustainable approach to managing these discarded power sources. The extracted content can be effectively reused in the production of new batteries, reducing the environmental footprint associated with battery disposal.
As the consumption of lithium-ion batteries continues to surge, the accumulation of spent batteries poses both health and environmental risks. Neglecting this issue can result in adverse consequences. Furthermore, overlooking the recycling potential of these spent batteries means missing out on valuable resources. According to a report published by JMK Research, India's lithium-ion battery market is projected to witness substantial growth over the next five years. The annual lithium-ion battery market is anticipated to grow at a remarkable CAGR of 37.5%, reaching a staggering 132 GWhin 2030. The cumulative market size is expected to escalate from 2.9 GWh in 2018 to approximately 800 GWh by 2030.
Commenting on this significant development, Shashank Soni, Director & CFO of Eco Recycling Limited said, "Ecoreco firmly believes that India must bolster its capacity and capability to recycle comprehensively within the country, supplying recovered commodities to various industries. This approach not only alleviates the strain on natural resources but also fosters a circular economy".
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
Get a daily dose of Herald Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Herald Globe.
More InformationWASHINGTON D.C.: In an interview with Reuters this week, U.S. commander General Chance Saltzman said the United States Space Force ...
As it did last year, the 2023 United Nations General Assembly has been debating what role the United Nations and ...
BATON ROUGE, Louisiana: Authorities said that Greg Lawson, who fled his 1991 trial in Louisiana for attempted murder 32 years ...
OTTAWA, Canada: During a joint news conference with Ukrainian President Volodymyr Zelenskyy in Canada's capital, Ottawa, Prime Minister Justin Trudeau ...
BEIJING, China: A respected Uyghur scholar, known for her extensive work in studying Uyghur folklore and traditions, has been sentenced ...
BEIJING, China: Local authorities said a fire at the Shanjiaoshu coal mine in Guizhou province, southern China, killed 16 people ...
(Photo credit: Vincent Carchietta-USA TODAY Sports) With virtually no margin for error as the regular season races toward the end, ...
Colombo [Sri Lanka], September 28 (ANI): Sri Lankan cricketer Danushka Gunathilaka has been found not guilty of sexual assault charges ...
Thiruvananthapuram (Kerala) [India], September 28 (ANI): South Africa's preparations for the ICC Men's Cricket World Cup have taken a blow ...
(Photo credit: Dan Hamilton-USA TODAY Sports) The Toronto Blue Jays are in a tight fight for a playoff berth, and ...
(Photo credit: Vincent Carchietta-USA TODAY Sports) Xavier Edwards scored the tie-breaking run on an error in the ninth inning Wednesday ...
(Photo credit: Eric Hartline-USA TODAY Sports) One night after clinching their second consecutive playoff berth, the Philadelphia Phillies refused to ...