Electronic waste and battery recycling company Attero has announced plans to invest approximately Rs 8,300 crore over the next five years to significantly increase its recycling capacity. The company’s CEO and Co-Founder Nitin Gupta shared details of this ambitious investment during a recent announcement.
Currently, Attero has the capacity to recycle up to 144,000 tonnes of electronic waste (e-waste) and 15,000 tonnes of lithium-ion batteries annually. “In the next five years, we will be investing roughly around $1 billion overall, including all forms of capital — debt, equity, and other non-dilutive forms of capital,” Gupta stated.
The company is experiencing rapid growth, doubling its capacity year-on-year. As part of its expansion, Attero is establishing a greenfield facility in Poland, marking its first major European venture. In India, the company is finalizing plans for another greenfield facility, potentially located in Andhra Pradesh or Jharkhand. “Our e-waste recycling capacity will increase to roughly around 415,000 tonnes per annum, and our battery recycling capacity will reach around 50,000 tonnes per annum within a year,” Gupta explained.
Attero has set a target to surpass $2 billion (approximately Rs 16,500 crore) in revenue by 2027. The e-waste recycling industry is growing at about 30 percent annually, while Attero is growing at more than 100 percent year-on-year. The company’s revenue rose from Rs 285 crore in FY23 to Rs 440 crore in FY24, with expectations to exceed Rs 1,000 crore this year. “To achieve the $2 billion target, we just need to invest a few hundred crores to ramp up capacity,” Gupta said.
Gupta emphasized Attero’s technological and operational efficiencies. “Every other Indian company produces an intermediate product that gets further refined either by Attero or companies outside India. Globally, our competitors are at less than 75 percent extraction efficiency, while we are at 98 percent. Our capital expenditure requirement for extraction is around $3,250 per tonne, compared to the global average of $5,500 to $10,000. We have the lowest operating expenditure in the world,” he noted.
Attero currently holds a 25 percent market share in the e-waste recycling sector, a figure Gupta expects to grow to 35 percent next year. In contrast, the company’s nearest competitor holds less than 10 percent of the market share.
This substantial investment and strategic expansion underline Attero’s commitment to leading the e-waste recycling industry both in India and globally. The company’s focus on increasing capacity and maintaining high efficiency in extraction positions it as a formidable player in the rapidly growing sector.
