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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)
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