The conventional methodology applied to Lithium Recycling is that the Spent Batteries often end up at a Recycling Plant where the raw material is incinerated, and copper and nickel from the batteries are recycled. But in this combustion process, the lithium is lost. We do have efficient methods for recovery of Lithium & other precious metals from these batteries.
The lithium-ion battery market is expected to grow exponentially in the next five years in India & around the world, its recycling offers a $1000 million opportunity by 2030 in India alone as per the research reports However, recycling would gather momentum only when the Indian government brings in a well-defined regulatory and policy framework.
The lithium-ion battery market in India is expected to increase to about 132 GWh by 2030 (CAGR of 35.5%). The increasing volume of lithium-ion batteries would, in turn, lead to a growing capacity of 'spent' batteries in the ecosystem which if left untreated would lead to health and environmental hazards.
The number of electric vehicles on the world’s roads will increase to 125 million by 2030 which justifies to opportunity for its recycling
Our Goal is to recover lithium from the Spent batteries using hydrometallurgy. In the said process the raw material is first dissolved in water and that the substance you want to extract is then precipitated. This process is generally used to extract nickel and zinc & we want to use the same base process with our proprietary NayaRefine process to extract the Lithium upto 80% recycling rate with a low-CO2 hydrometallurgical recycling process. The batteries are first made safe for mechanical treatment, with plastics, aluminium and copper separated and directed to their own recycling processes. We want to also create a Second Life for these spent batteries where these can be reused in Energy Storage Applications.