New Delhi: E-waste and battery recycling company Atero Nitin Gupta, CEO and co-founder of the company, said it plans to invest around 8,300 crore rupees over the next five years to increase production capacity.The company currently owns capacity Recycling up to 1,44,000 tonnes of e-waste (electronic waste) and 15,000 tons of lithium-ion batteries per year.
“We will obviously invest a total of about $1 billion or so over the next five years, including all forms of capital – debt, equity and other non-dilutive forms of capital,” Gupta told PTI.
He said that the company has grown by 100% year-on-year and its production capacity has gradually increased.
“A greenfield facility in Europe will be set up in Poland. Work has already started there. In India, we are building another greenfield facility. We are finalizing space in Andhra Pradesh/Jharkhand. Our e-waste (recycling) ) capacity will reach about 415,000 tons per year.
The company has set a target of crossing $2 billion in revenue by 2027, which is about Rs 16,500 crore.
“The industry is growing at around 30% every year. Our year-on-year growth is over 100%. Our revenue in FY23 was around Rs 285 crore and in FY24 it was Rs 440 crore. This year we expect to cross Rs 1,000 crore in revenue , to achieve the $2 billion target, we only need to invest billions of rupees to increase production capacity,” Gupta said.
He claimed that all other Indian companies produce intermediate products, which are then further refined by Attero or companies outside India.
“Globally, our competitors have mining efficiencies of less than 75%, while we are at 98%. Our mining capital expenditure requirements are approximately US$3,250 per ton, compared with global capital expenditures of between US$5,500 and US$10,000 per ton. between.
Attero has a 25% market share that will grow to 35% next year, while the company’s closest competitor has less than 10%, he claimed.
“We will obviously invest a total of about $1 billion or so over the next five years, including all forms of capital – debt, equity and other non-dilutive forms of capital,” Gupta told PTI.
He said that the company has grown by 100% year-on-year and its production capacity has gradually increased.
“A greenfield facility in Europe will be set up in Poland. Work has already started there. In India, we are building another greenfield facility. We are finalizing space in Andhra Pradesh/Jharkhand. Our e-waste (recycling) ) capacity will reach about 415,000 tons per year.
The company has set a target of crossing $2 billion in revenue by 2027, which is about Rs 16,500 crore.
“The industry is growing at around 30% every year. Our year-on-year growth is over 100%. Our revenue in FY23 was around Rs 285 crore and in FY24 it was Rs 440 crore. This year we expect to cross Rs 1,000 crore in revenue , to achieve the $2 billion target, we only need to invest billions of rupees to increase production capacity,” Gupta said.
He claimed that all other Indian companies produce intermediate products, which are then further refined by Attero or companies outside India.
“Globally, our competitors have mining efficiencies of less than 75%, while we are at 98%. Our mining capital expenditure requirements are approximately US$3,250 per ton, compared with global capital expenditures of between US$5,500 and US$10,000 per ton. between.
Attero has a 25% market share that will grow to 35% next year, while the company’s closest competitor has less than 10%, he claimed.
