Recyclekaro to invest Rs 300 crore to expand critical minerals’ recycling

Mumbai based Recyclekaro has announced to have secured eligibility under the government’s Incentive Scheme for Promotion of Critical Mineral Recycling, introduced by the Ministry of Mines as part of the National Critical Minerals Mission.

Now Recyclekaro plans to invest around Rs 300 crore to expand its recycling operations, increasing its total processing capacity to approximately 50,000 metric tonnes. The project has been classified as a brownfield expansion under Beneficiary Category Group A.

The expansion will focus on extracting valuable materials from diverse waste streams, including lithium-ion batteries, electronic circuit e-waste, rare-earth magnets, and spent catalytic converters. This initiative is expected to strengthen domestic availability of critical minerals such as lithium and rare-earth elements, which are essential for electric mobility, renewable energy, and advanced manufacturing sectors.

Commenting on the development, Rajesh Gupta, Founder and Managing Director of Recyclekaro, said that the eligibility marks a significant step toward enhancing India’s energy security through domestic sourcing of critical minerals.

Gupta also revealed plans to invest over Rs 500 crore in a dedicated R&D facility over the next five years, with a focus on rare-earth and critical mineral recovery technologies.

Recyclekaro currently operates zero-disposal recycling facilities, with an e-waste processing capacity of 24,500 metric tonnes and lithium-ion battery processing capacity of 10,000 metric tonnes. The company reports recovery efficiency exceeding 95%, with material purity levels above 99%.

In a related push, the Union Cabinet last year approved a ₹72.8 billion program to promote domestic manufacturing of rare-earth permanent magnets, further supporting India’s clean energy ambitions.

Last year, Recyclekaro announced a major expansion of its operations, increasing its total recycling capacity to 24,000 tonnes annually at its state-of-the-art facility in Palghar, near Mumbai. Recyclekaro partners with leading battery manufacturers, automakers, and renewable energy companies, with a client roster including Bajaj Auto, Ather Energy, Hero MotoCorp, Tata Motors, and many others.