Mumbai, Apr 8 (PTI) E-waste and lithium-ion battery recycling firm Recyclekaro on Wednesday said it has secured eligibility for the government’s Incentive Scheme for 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 Rs 300 crore to expand its critical mineral recycling operations, which will increase 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.
Aimed at establishing a circular economy by encouraging the extraction of critical minerals from waste streams (e-waste, Li-ion batteries), the government’s Rs 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 built in-house technologies, conducted thousands of pilot-scale experiments, and are now investing…in our newly developed R&D facility.
“It is going to be amongst the biggest privately owned facilities in India dedicated to rare earth and critical mineral recovery,” 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. PTI IAS BAL BAL
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