Hyderabad-based Black Gold Recycling, a circular economy startup, has acquired a majority stake in Reteck Envirotech Pvt. Ltd., the Indian subsidiary of Hong Kong and US-based Li Tong Group (LTG), a global leader in reverse supply chain management and electronics lifecycle solutions.
Black Gold is a e-waste, plastic and battery recycling firm. The acquisition marks a major step in Black Gold’s strategy to build a technology-driven circular economy platform in India. By combining operational experience of Reteck with Black Gold’s innovation-led recovery models, the company aims to expand sustainable recycling capabilities across lithium-ion batteries, plastics, solar panels and end-of-life electronics.
Prabhu Ram, Founder and CEO of Black Gold Recycling, stated, “Our mission is to make sustainability scalable — by design, not by chance. This acquisition brings together Reteck’s global operational expertise and our technology-led recovery platform to create a stronger, more responsible ecosystem for e-waste management in India.”
He added that the business of Black Gold is deeply aligned with the Critical Mineral Mission Plan of the Government of India, as his company focuses on recovering strategic materials from e-waste, batteries, and solar panels — ensuring that what leaves our hands re-enters the economy responsibly. “We’re investing in advanced processes for lithium-ion battery, plastic, and solar panel recycling, turning India’s waste streams into sources of value, innovation, and circular growth.”
Linda Li, Chief Strategy Officer at Li Tong Group, said, “Reteck India has been an integral part of Li Tong Group’s global network. We’re pleased to transition our Indian business to Black Gold Recycling, whose local expertise, leadership and sustainability focus align perfectly with our global vision. We look forward to continued collaboration as Black Gold scales Reteck India to new levels of innovation and compliance.”
As part of the agreement, Pankaj Tirmanwar, CEO of Reteck Envirotech, will join Black Gold Recycling as Co-founder and Board Member, helping to strengthen the company’s national operations.
Backed by USD 10 million in seed funding from Citrus Global Arbitrage Fund, Black Gold Recycling gains access to advanced infrastructure in IT asset disposition, component recovery, and e-waste recycling, enabling OEMs and enterprises to manage recovery with full traceability.
The acquisition positions Black Gold as an important player in India’s sustainable reverse supply chain, supporting the country’s shift toward a low-carbon and resource-secure future.
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