Attero to expand recycling capacity, plans IPO in 2025

E-waste recycling company Attero Recycling plans to go public in 2025, said chief executive and co-founder Nitin Gupta.

In an interview, Gupta said the company is still debating whether to list its shares in India or abroad as it also has major international plans.

“2025 is the time when we plan to go public. In fact, we are a very high-growth company, we are generating earnings and cash flow, and from an ESG perspective, the company is likely to be an IPO. We have excellent qualifications for , and we plan to do an IPO in 2025,” he said.

Gupta also said Attero is in talks for its next equity financing. The company’s last funding was a Series C round led by private equity fund Forum Synergies (India) in 2014 for $16.5 million. He said the company plans to increase revenue to $2 billion as the business grows.

On Thursday, Attero announced plans to build a 15,000-tonne lithium-ion battery recycling plant in Telangana. ¥60 billion. The current production capacity he is 4,500 tons.

“In the next five years, the annual production capacity of lithium-ion batteries will be about 300,000 tonnes. Therefore, the total investment is ¥Of the 7,500 kroner, the Indian capacity is assumed to be 60,000 tonnes. The current production capacity is already 4,500 tons. This Telangana plant will add 15,000 tonnes of production capacity,” said Gupta.

He said the total investment in the Telangana plant, which will be located about 25 km away from Hyderabad, will be ¥600 million in two stages. He says the company recovers more than 98% of his battery-grade cobalt, lithium carbonate, graphite, and nickel (from used batteries) to make new battery his cells from top automotive OEMs worldwide. said to be exporting to

In June of this year, the e-waste recycling company announced plans to invest $1 billion in its global expansion over the next five years. As part of the plan, the company, which also recycles batteries, will set up factories in the United States, Poland and Indonesia, and expand its operations in India.

Regarding the progress of the international plan, Gupta said plans to set up factories overseas were “going smoothly.”

In the first phase, Attero will invest $500 million to expand its lithium-ion battery recycling capacity to 150,000 tons by 2025. The European facility is expected to be operational in the fourth quarter of 2022, while the Ohia, US facility is expected to be operational by 2025. Third quarter of 2023.