Attero eyes global expansion, to double revenue to ₹3,000 crore this year

Attero, one of India’s leading e-waste recyclers, expects to double its revenue from last year to ₹3,000-crore, and is currently exploring a few locations in Europe for expansion.

“Last year, we did around ₹1,500 crore in revenue. Before that, we had around ₹964 crore in revenue. This year, we are doubling revenue to around ₹3,000 crore,” Nitin Gupta, co-founder and chief executive of Attero, told ET, adding that the company is looking for expansion outside India and exploring a few locations in Europe.

Gupta, however, said that the company is currently focusing on expansion within India. “We want to make sure that, using our technology and research model, we can help India become self-reliant on critical minerals as much as possible. After that, we will look at global expansion.”

Delhi-based recycling firm invests nearly 2% in research and development (R&D) initiatives.

“We do a lot of work in critical minerals extraction, and have more than 50 granted global patents on various recycling technologies that we have developed in India. These technologies enable us to recycle all kinds of electronic waste, all kinds of lithium batteries and rare earth materials in the most efficient manner possible.”

Attero’s extraction efficiencies, according to the executive, are more than 98% compared to a global average of about 80%. “Our capex per tonne is 40% lower. In fact, our technology is better than those in the US and China. So, our global R&D centre is the heart of the company,” he added.
Presently, the company operates e-waste recycling plants in Roorkee, Pune and Jaipur, and is also considering opening a few new locations.

In 2022, the Centre unveiled e-Waste (Management) Rules that prescribe Extended Producer Responsibility (EPR) mandating OEMs (Original Equipment Manufacturers), producers, importers, and brand owners to be legally accountable for managing the end-of-life of their electronic products. But, according to domain experts, the on-ground situation has not changed much since then.

“Regulations are there. Unfortunately, within the OEM community, what they are doing outside India and what they are doing within India is different. All the OEMs are paying more for extended producer responsibility outside India than the minimum prescribed price prevalent in the country.”

The electronics manufacturers such as Samsung, Apple, LG, Vivo, Xiaomi, Oppo and OnePlus run programs to take back end-of-life products from consumers, but awareness remains low.

Experts say that responsible e-waste recycling would boost the country’s critical mineral security.

The total amount of electronic waste generated in India is roughly 4 million tonnes, growing at nearly 15% year-on-year. The amount of lithium-ion battery waste generated in India comes to around 60,000 tonnes per annum, surging by about 50% year-on-year.

Electronic waste or e-waste is emerging as a serious public health and environmental issue in India, with the country becoming g the third-largest electronic waste producer worldwide.