As the global adoption of electric vehicles (EVs) accelerates, startups in India and the European Union (EU) are making a case for greater collaboration and innovation in the EV battery recycling space.
Calling for cooperation
The call for collaboration emerged during a startup match-making event organised by the India-EU Trade and Technology Council (TTC) Working Group 2. Aimed at promoting innovation in the EV battery recycling sector, the event provided a platform for Indian and EU startups to pitch their groundbreaking technologies.
Market Immersion Experience
Under this collaboration initiative, three startups each from India and the EU will be selected for a week-long market experience in the respective countries. The visit will enable the selected startups to interact with stakeholders, explore potential collaborations and gain insights into the local market conditions. The visit will provide prospects for establishing pilot projects, commercial opportunities and joint development initiatives.
Final Selection and Selection Process
An independent expert committee shortlisted 12 startups on June 20 based on scientific merit, market readiness and collaboration prospects. Six startups were selected from the Indian side – Lohum, LW3, BatX Energies, Evergreen Lithium Recycling, Metastable Materials and CENALL. Out of these, three Indian startups will be ultimately selected to visit the EU.
Main attendees
The virtual event was attended by eminent dignitaries including Ajay Kumar Sood, Principal Scientific Advisor, Government of India, Marc Lemaitre, Executive Director for Research and Innovation, European Commission, and Saurabh Kumar, Ambassador of India to Belgium, Luxembourg and the EU. This initiative is in line with the efforts of both regions to advance the sustainability agenda, foster innovation and strengthen economic ties.
“Today’s matchmaking event brings together the best talent and technology from both battery recycling sectors, providing an exclusive platform for interaction, networking and future investment,” said Sood.
Background to the India-EU TTC
The India-EU TTC was first announced by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen in April 2022 and was formally launched in February 2023. The Council will act as a strategic coordination mechanism to address issues relating to trade, technology, security and cooperation. The Council comprises three working groups – Strategic Technologies and Digital Governance, Green and Clean Energy Technologies, and Trade, Investment and Resilient Value Chains.
Increasing EV adoption in India
The partnership comes at a time when EV adoption is growing rapidly in India, driven by production-linked incentive (PLI) schemes and subsidies. The two-wheeler sector is driving this growth, with major players such as Ola Electric and Ather Energy entering the market. With the growing demand for sustainable battery solutions, battery recycling startups are carving out a niche for themselves.
Policy support and investment
The Government of India has been promoting energy storage systems through the National Framework on Energy Storage Systems for Battery Reuse. In 2023, the Ministry of Mines invited proposals from startups to promote research and innovation in the mining, mineral processing, metallurgy and recycling sectors.
Investor interest in the space has been strong, with large funding rounds supporting startup growth: earlier this year, Lohum secured a $54 million funding round with participation from Singularity Growth, and BatX Energies raised $5 million in a pre-series A funding round from Zephyr Peacock and other investors.
