Mumbai, April 8 E-waste and lithium-ion battery recycling firm Recyclekaro announced on Wednesday that it has secured eligibility for the government's Incentive Scheme for the Promotion of Critical Mineral Recycling, under the National Critical Minerals Mission.
This eligibility reinforces Recyclekaro's commitment to advancing India's circular economy and reducing dependence on imported critical minerals, the company said.
Recyclekaro has pledged an investment of approximately ₹300 crore to expand its critical mineral recycling operations, which will increase the total processing capacity to around 50,000 metric tonnes.
The project has been classified as a brownfield expansion under Beneficiary Category Group A and is focused on strengthening domestic recovery of critical minerals from multiple waste streams, including spent lithium-ion batteries, electronic circuit e-waste, rare earth magnets, and spent catalytic converters, further reinforcing India's energy security and circular economy goals, the company said.
Aiming to establish a circular economy by encouraging the extraction of critical minerals from waste streams (e-waste, Li-ion batteries), the government's ₹1,500 crore scheme provides financial incentives (capital and operational subsidies) to firms recycling e-waste and batteries to reduce import dependency.
"We have secured eligibility under the Central Government's Critical Mineral Recycling Incentive Scheme. Over the past 15 years, we have developed in-house technologies, conducted thousands of pilot-scale experiments, and are now investing...in our newly developed R&D facility.
"It will be among the largest privately owned facilities in India dedicated to the recovery of rare earth and critical minerals," said Rajesh Gupta, Founder and Managing Director, Recyclekaro.
The incentive scheme is a key component of the National Critical Mineral Mission, and is aimed at developing the recycling capacity in the country for the separation and production of critical minerals from secondary sources.
