E-Waste Recycling Major Targets to Double Capacity by Next Year

SEATTLE (Scrap Monster): India-headquartered leading electronics recycling firm Attero Recycling announced plans to double its capacity before the end of next year. The company also targets to get listed on stock exchanges in a period of three years.

As part of its expansion plans, the company aims to set up as many as six new e-waste recycling facilities before end-2021 and a total of 14 new plants on franchisee model before the end of next year. The franchisees will cover the entire India. These will more than double Attero’s processing capacity to around 3 lakh tonnes per annum, compared to the current capacity of 144,000 tonnes per year.

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Nitin Gupta, CEO and Co-Founder, Attero Recycling said that the works on listing process will commence within 1-1.5 years from now. It will be only at that point of time that the company will take a final decision on whether to make the listing in India or the U.S., he added.

According to Gupta, the company continues to be profitable and cash flow-positive. The newly introduced extended producer responsibility (EPR) scheme by the government has been the main catalyst behind the triple-digit year-on-year growth by the company. The rise in products covered under the EPR regime from the current level of 30 to 700 by 2025 is expected to further boost the company’s growth.