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LICO Material is a recycling and refurbishing company, founded in 2021 with focus to create a sustainable circular economy solution in the lithium-ion battery supply chain for recovery of critical materials such as lithium, cobalt, manganese, and nickel to be given back to battery manufacturers to give the materials a second life. The company has a state-of -the art end of life Lithium-ion battery recycling facility in Bengaluru Karnataka with infeed capacity of 4GWh per annum. The company plans to refine black mass into metal salts using hydrometallurgy, aiming to scale up to a plant capable of processing 10,000 metric tons of black mass equivalent to 20,000 batteries annually.
Vision: To become a market leader & trusted provider for recycling of lithium – ion batteries.
LICO has commissioned its first battery recycling plant and shredding plant with a capacity of 3000 M Tons per annum in Mumbai in Q2 2022. This battery recycling plant uses scalable and standard equipment to separate plastics, copper and aluminium foils and black mass. The black mass produced contains critical materials like lithium, cobalt, manganese and nickel.
LICO has formed a strategic partnership with a sustainable technology provider to set up 2 battery recycling plants in Southern India with a combined capacity of 10000 M Tons per annum, which uses proprietary hydrometallurgy technology to recover the critical metals from the black mass-produced during shredding.
