LICO Materials and Sanvaru Technology have announced a strategic partnership to address the challenges of recycling battery materials and contributing to the sustainable practices crucial for the electric mobility sector.
Recognizing the critical importance of responsible resource management, Sanvaru will actively contribute to a cleaner, greener planet by supplying end-of-life lithium-ion batteries for recycling through its collaboration with LICO Materials. Focused on closing the loop, LICO will further recover critical minerals and supply back to battery manufacturers.
India does not have any of the critical minerals for making a lithium-ion battery and needs to import them. India has also identified 30 critical minerals last year including lithium, cobalt, nickel, graphite, copper, which are essential for the country’s economic development and national security. The partnership will fuel India’s journey of becoming Energy Independent by reducing dependency on foreign countries and impacting in reduction of imports.
LICO has a state-of-the-art end of life Lithium-Ion Battery Recycling and Refurbishing plant in Navi Mumbai, Maharashtra and an upcoming facility at Bengaluru, Karnataka with a combined capacity of 4 GWh per annum. Through this collaboration, Sanvaru will contribute 450 MWh capacity over the next 3 years.
This collaboration signifies both companies’ commitment to creating a circular economy for batteries, actively participating in the responsible management of resources, and addressing the growing need for sustainable practices in the battery industry. With focus on sustainable practices in the EV ecosystem, the collaboration is also aligned with the Government of India’s mission to achieve Net Zero emission by 2070.
Gaurav Dolwani, Founder and CEO of LICO Materials, said, “Joining forces with Sanvaru Technology marks a significant step toward achieving our shared vision of a circular economy for batteries. By recycling and refurbishing end-of-life batteries, we are not only contributing to the responsible use of critical materials such as lithium, cobalt, manganese, and nickel to be given back to battery manufacturers to give the materials a second life but also addressing the growing need for sustainable practices in the battery industry.”
A K Shukla, MD of Sanvaru Technology, said, “The partnership with LICO Materials aligns with our commitment to environmental stewardship. By supplying end-of-life batteries for recycling, we are actively participating in the creation of a closed-loop system, ensuring the responsible management of resources and contributing to a cleaner, greener future.”