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Attero to invest ₹100 crore to scale rare earth recycling capacity
China in April imposed restrictions on exports of rare earth, a critical mineral used in manufacturing of electronic, automobile and other technology products.
Attero CEO and Co-Founder Nitin Gupta told PTI that the investment is in line with demand in the market for rare earth magnets, for which industries in India and across the world like electronics, automobile etc are entirely dependent on supplies from China.
"With our existing capability and technology leadership, we are ready to scale our REE recycling capacity from 1 to 100 tonnes per day to reach a total of 30,000 tonnes annually and explore further expansion as demand accelerates. We plan to invest Rs 100 crore towards this expansion," he said.
The company will focus on extraction of rare earth minerals such as Neodymium (Nd), Praseodymium (Pr), and Dysprosium (Dy) with over 98 per cent efficiency and 99.9 per cent purity. These are essential to key sectors including electric vehicles, wind energy, and consumer electronics.
"Attero has consistently advocated for India's self-reliance in critical minerals to reduce dependence on imports and counter China's dominance in rare earth supply chains.
"We are proud to be the only Indian company with proven deep-tech and globally patented processes to refine black mass and recover rare earth elements. The current global environment only reinforces the urgency of building domestic infrastructure," Gupta said.
The government has launched the National Critical Mineral Mission in January to build a strong foundation for self-reliance in the critical mineral sector. The initiative recognises recycling as a key strategy to secure domestic supply chains and reduce dependence on imports.
Gupta said that his company's expansion directly supports the government's National Critical Mineral Mission (NCMM) aimed at reducing import dependence and promote self-reliance in critical mineral supply chains.
According to industry estimates shared by Attero in a note, the global REE market is projected to reach USD 10.9 billion by 2029 at a CAGR (compound annual growth rate) of 12.6 per cent, and REE magnets expected to exceed USD 30.3 billion by 2033.
Gupta said that Attero holds over 46 global patents, including recent grants in the rare earth space across India and key international markets including Oman , Qatar, Saudi Arabia, Kuwait, UAE , Bahrain, China and Taiwan.
"Attero's patented technology enables the extraction of REEs from e-waste and end-of-life electronics such as hard disk drives, laptops, neckbands, and earphones; components that contain high concentrations of Nd, Pr, Ce, Gd, and Dy. The process is energy-efficient, cost-effective, and significantly reduces greenhouse gas emissions compared to traditional mining," Gupta said.
In the financial year 2025, Attero claims to have processed over 1.5 lakh tonnes of e-waste and 15,000 tonnes of lithium-ion batteries annually and targeting a Y-o-Y growth of 100 per cent.
Attero also has plans to expand its footprint in Europe and the US.
The company aims to ramp up its annual e-waste processing to 4,15,000 tonnes and battery recycling to 50,000 tonnes, expanding its global capacity and furthering India's leadership in critical mineral recycling.
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