E-waste recycling company Attero has announced plans to invest Rs 1 billion to increase its rare earth element (REE) recycling capacity from 300 tonnes to 30,000 tonnes annually over the next 12 to 24 months. The move comes amid tightening global supply and India’s push for critical mineral self-reliance following China’s recent export restrictions on rare earths.

“Attero is ready to scale its rare earth recycling capability from one to 100 tonnes per day, reaching 30,000 tonnes annually,” said Nitin Gupta, CEO and Co-Founder. The investment will support extraction of key rare earth elements such as Neodymium (Nd), Praseodymium (Pr), and Dysprosium (Dy), with over 98 per cent efficiency and 99.9 per cent purity—crucial for electric vehicles, wind energy, and consumer electronics.

Attero remains India’s only company with proven deep-tech and globally patented processes to refine black mass and recover REEs. Gupta emphasised the urgency of building domestic infrastructure to counter China’s dominance in critical mineral supply chains.

The company’s expansion aligns with the Government of India’s National Critical Mineral Mission (NCMM), launched in January to secure domestic supply and reduce import dependence. Recycling plays a key role in this mission.

The global rare earth market is projected to reach USD 10.9 billion by 2029, with REE magnets expected to cross USD 30.3 billion by 2033, according to estimates shared by Attero. The company holds over 46 global patents, with recent grants in key markets including India, China, Taiwan, Oman, Qatar, Saudi Arabia, UAE, Bahrain, and Kuwait.

Attero’s patented technology allows for efficient REE extraction from end-of-life electronics such as laptops, hard drives, earphones, and neckbands—components rich in Nd, Pr, Ce, Gd, and Dy. Its process is energy-efficient, cost-effective, and significantly lowers emissions compared to conventional mining.

In FY25, Attero processed over 150,000 tonnes of e-waste and 15,000 tonnes of lithium-ion batteries, and is targeting 100 per cent year-on-year growth. The company aims to ramp up e-waste recycling to 415,000 tonnes and battery recycling to 50,000 tonnes annually. Expansion into Europe and the US is also planned to strengthen its global footprint and position India as a leader in critical mineral recycling.