Rubamin to invest $63M investment in Circular Recycling of LIB & Spent Catalyst
In a ceremony at held Swarnim Sankul Gandhinagar Rubamin Private Limited, represented by Mr. Bhuwan Purohit - Executive Director (Corporate Planning & Strategy), exchanged a Memorandum of Understanding (MoU) with Chief Secretary (Industry & Mines) Rajiv Gupta in the presence of Chief Minister of Gujarat Shri Bhupendra Patel.
The Memorandum of Understanding represents investment intention of $63M under Vibrant Gujarat 2022 towards futuristic greenfield waste management facility for circular & zero-waste recycling of used Lithium-Ion Battery & refinery spent catalyst to reclaim multiple metals such as Lithium, Cobalt, Nickel, Vanadium, etc.
The transition of automobiles from petrol to Electric Vehicles (EVs) is a significant step in the move to a net-zero future. According to the International Energy Agency (IEA), the demand for graphite, nickel, copper, cobalt and manganese is expected to see phenomenal growth in EV, with lithium being the most sought after. While the Government of India has set a high target for EV sales, India is not endowed with many of the rare minerals such as lithium, cobalt, and nickel, which are used to make lithium-ion battery (LIB) cells, which then is utilised to generate electric car batteries.
Rubamin’s zero-waste circular recycling capabilities could provide India with much needed critical metals from e-waste generated in the country. This urban mining of metals is eco-friendly, cost effective and low carbon as the GHG emissions are several times lower than primary processing. Several countries are promulgating regulations for maximising the use of such recycled metals as a substitute to the primary mining.
Rubamin expects to commission its Lithium-Ion (Li-Ion) Battery and spent catalyst recycling facility by end of 2023 which will provide Lithium, Cobalt, Nickel, Vanadium, Molybdenum chemicals to catalyst and battery application.
