Schedule a Call Back
Attero to invest Rs 83 billion to increase e-waste recycling capacity
Industry News- May 22,24
Equipped with a revenue target of over $2 billion by 2027, Attero aims to capitalise on the industry's 30% annual growth rate, exceeding its own 100% year-on-year growth
Attero, an electronic waste and battery recycling firm, aims to invest approximately Rs 83 billion over the next five years to enhance its capacity, according to Nitin Gupta, CEO & Founder, Attero. Currently, the company can 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, our investment will amount to roughly $1 billion, encompassing various forms of capital, including debt, equity, and other non-diluted forms," Gupta informed a source. The company, experiencing a 100% year-on-year growth, is gradually expanding its capacity.
"A greenfield facility in Europe will come up in Poland. Work has already started there. In India, we are building another greenfield facility. We are finalising the space in Andhra Pradesh/Jharkhand. Our e-waste (recycling) capacity will get to roughly around 4,15,000 tonnes per annum. Our battery (recycling) capacity will broadly reach around 50,000 tonnes per annum in a year," said Gupta,.
Equipped with a revenue target of over $2 billion by 2027, Attero aims to capitalise on the industry's 30% annual growth rate, exceeding its own 100% year-on-year growth. Gupta highlighted that Attero's revenue reached around Rs 2.85 billion in FY23 and Rs 4.40 billion in FY24, expecting to surpass Rs 10 billion in revenue this fiscal year.
Gupta emphasised Attero's superiority in extraction efficiency, with a 98% rate compared to the global average of less than 75%. Additionally, Attero boasts significantly lower capital and operating expenses, making it a formidable player in the market. Currently holding a 25% market share, Attero anticipates this to increase to 35% next year, outperforming competitors with less than 10% market share.
(Source: Business Standard)
Related Stories
Electrical & Electronics
Senvion India to double manufacturing capacity by 2026
Recently, Senvion India introduced a 4.2 MW wind turbine, marking the first 4 MW turbine designed in collaboration with RE Technologies, a German R&D firm with which it holds an exclusive licensing ..
Read moreRailways
Indian Railways and Switzerland’s DETEC partner for technological collaboration
The renewed agreement builds on an original MoU from 2017, which covered areas like traction rolling stock, EMU train sets, propulsion equipment, electrification, and station modernisation.
Read moreRailways
Freight corridors fuel equitable economic growth across India: Study
The DFC network spans 2,843 kilometers across seven states, with the 1,337-km Eastern DFC fully operational from Ludhiana to Sonnagar, Bihar, and the 1,506-km Western DFC nearly complete, connecting..
Read moreRelated Products
78 Series Din Rail Terminal Blocks
ELECTRICAL & ELECTRONIC EQUIPMENT
Werner Electric Private Limited offers a wide range of 78 series din rail terminal blocks.
Mig Welding Torches
ELECTRICAL & ELECTRONIC EQUIPMENT
ATE Welding Engineering Robotics & Automation offers MIG welding torches. Read more
Puma Lift Electric Stacker
ELECTRICAL & ELECTRONIC EQUIPMENT
Puma Lift Trucks Pvt Ltd offers a wide range of puma lift
electric stacker.
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
