LICO, a leading lithium-ion battery recycler and Karo Sambhav, an industry leader in designing and implementing transformative Circular and EPR solutions, have signed an MoU (Memorandum of Understanding) to collect and recycle Lithium-ion batteries and strengthen the circular economy of India.

With millions of EV vehicles planned to be rolled out, there is an alarming concern about the end-of-life Lithium-ion batteries. Recycling these batteries serves the dual purpose of efficient waste management and generating a secondary stream of sustainably recovered critical minerals for re-use.

LICO Materials has recently signed strategic agreements with Karo Sambhav, where Karo Sambhav will collect, store, and transport lithium-ion batteries to LICO recycling facilities. Karo Sambhav will also bring their experience and expertise in client servicing for EPR for battery supply partners for LICO. 

LICO will recover metal salts through recycling and supplying the same to battery manufacturing and EV industry for re-utilization in batteries, reducing dependence on critical minerals imports and mining.

Talking about the collaboration, Gaurav Dolwani, CEO, LICO Materials Pvt. Ltd. says, “Sustainability is a collective responsibility and through collaboration with Karo Sambhav we are taking another step to ensure that our planet remains green, and we create more resources for domestic manufacturing. At LICO Materials, we have a roadmap to invest Rs. 500 crores by FY25 to create a black mass refining plant with capacity of 10,000 metric tonnes per annum. The LICO expansion and Karo Sambhav partnership will generate a systematic supply chain to ensure that Lithium-ion batteries are recycled the right way.”

Pranshu Singhal, Founder, Karo Sambhav said, “Karo Sambhav has been setting up a grassroot ecosystem which enables adoption of circular practices. We strongly believe our partnership with LICO shall enable development of a well-governed circular solution for collection and recycling of battery waste.”

LICO Materials is a recycling company with a focus to create sustainable circular economy solutions in the lithium-ion battery supply chain for recovery of critical minerals. Lico Materials has commissioned its first battery recycling plant with an initial capacity of 3,000 metric tonnes per annum in Navi Mumbai and is finalising a second location in South India with a capacity of 5,000 metric tonnes. LICO Materials works with several electric vehicle OEM’s and battery pack manufacturers in India.

The company collects their end-of-life batteries and recycles them to be reused into new battery packs. LICO’s recycling operations are in line with the stringent standards and guidelines prescribed by the Ministry of Environment, Forest and Climate Change and Central Pollution Control Board in India. LICO supports the Atmanirbhar Bharat initiative by lowering dependency on mineral imports and mining.