Recyclekaro

What Recyclekaro does

Recyclekaro (legal entity: Evergreen Recyclekaro India Limited) is a Mumbai-headquartered industrial recycler operating India's largest lithium-ion battery recycling facility on a 17-acre integrated campus in Wada, Palghar, Maharashtra. Founded in 2010–2011, the company processes e-waste, lithium-ion batteries, end-of-life vehicles, and rare-earth-bearing waste streams using proprietary hydrometallurgical and mechanical processing, reporting recovery rates above 90% for critical battery metals (lithium, cobalt, nickel, manganese) and up to 98% for valuable materials overall. It maintains CPCB, SPCB, MPCB, ISO 9001/14001/45001, and R2 certifications, and is registered under Battery Waste Management Rules 2022.

The company serves four primary customer segments: large enterprises and PSUs (375+ corporate partners including Tata Motors, Infosys, Reliance, RBI, NSE, Maruti Suzuki, Hero, Godrej, Bajaj, FoxConn, DHL, Ather, KPIT, Accenture, Capgemini, Genpact, Thyssenkrupp, Bharat Electronics); residential households and individuals; industrial and manufacturing plants; and electric vehicle manufacturers. Recyclekaro generates revenue through transaction-based material recovery and recycling fees, professional EPR (Extended Producer Responsibility) compliance services for e-waste and batteries under Indian regulatory frameworks, and the sale of recovered critical minerals. The company operates a dual-channel distribution model combining dedicated enterprise field sales with a self-serve EPR portal, supported by a nationwide network of 12,000+ collection touch points.

In January 2026, Recyclekaro inaugurated a Rare Earths and Advanced Materials Research Centre targeting 20,000 MT of rare earth processing capacity with a planned ₹500 crore investment by 2030, alongside collaborative R&D partnerships with IIT Bombay, IIT Kanpur, and IIT Hyderabad. The company has announced plans to raise ₹240 crore through a new equity round and is publicly considering an IPO to fund further capacity expansion and value-chain progression toward battery-grade material refining. The group operates five wholly-owned subsidiaries (Evergreen Vaahan, Reloop, Evergreen Advanced Technotech, Evergreen Lithium Recycling, and CGM) under the Evergreen Recyclekaro Group umbrella.

Name

Recyclekaro

Legal name

Evergreen Recyclekaro India Limited

Website

https://recyclekaro.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Recyclekaro is a Mumbai-based industrial recycler operating India's largest lithium-ion battery recycling facility, processing e-waste, Li-ion batteries, end-of-life vehicles, and rare-earth-bearing waste for 375+ enterprise clients and individual consumers through proprietary hydrometallurgical technology and EPR compliance services.

Ownership category

akta.pro rank

Product category

E-waste and Battery Recycling Services

NAICS

Materials Recovery Facilities (562920), Hazardous Waste Treatment and Disposal (562211), Waste Treatment and Disposal (5622), Waste Collection (56211)

SIC

Sanitary Services (4950), Hazardous Waste Management (4955)

akta.pro primary industry

Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF)

akta.pro secondary industries

Collection, Logistics & Reverse Supply Chain (Transport, Sorting, Tracking) (EUAFACAA), Battery Materials Refining & Re-Manufacturing Feedstocks (Li, Ni, Co, Mn, Graphite Salts) (EUAIAIAJ), Battery Recycling & Management (Lithium-ion, Lead-acid) (BPALAIAF)

Keywords

• E-waste recycling
• Lithium-ion battery recycling
• EPR compliance services
• Critical mineral recovery
• Battery material processing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Material Recovery & Recycling Fees: Recycling fees charged to enterprises and industries for the collection, processing, and material recovery from e-waste and Li-ion batteries. Revenue is consumption-based, driven by volume of waste handled.
2. EPR Compliance Services: Extended Producer Responsibility (EPR) compliance services for brands and manufacturers, including certificate generation, regulatory reporting, and documentation management. Provided as a managed service to enterprise clients.
3. Critical Mineral Sales: Sale of recovered critical minerals (lithium, cobalt, nickel, manganese, rare earths) extracted through hydrometallurgical processing. Revenue is commodity-price dependent.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Recyclekaro provides end-to-end e-waste and lithium-ion battery recycling services, recovering critical battery metals (lithium, cobalt, nickel, manganese) and rare earth elements through proprietary hydrometallurgical and mechanical processing. The company offers EPR compliance services for producers under Indian E-Waste Management Rules 2022 and Battery Waste Management Rules 2022, along with vehicle recycling and PGM recovery from end-of-life vehicles and catalytic converters. Operations are anchored by India's largest Li-ion battery recycling facility in Wada, Palghar, and supported by a dedicated R&D center for rare earth recovery technology.

Product overview

Recyclekaro operates as a unified platform offering end-to-end e-waste and lithium-ion battery recycling services with EPR compliance. The core product portfolio consists of E-Waste Management & Recycling, Green Metals & Battery grade Materials, Vehicle Recycling & PGM Recovery, Lithium Battery Systems & Second Life Solutions, and Rare Earth–Bearing Waste Processing, all supported by R&D Innovation and Digital Platforms & Real-Time Tracking for traceability. Add-on compliance modules (EPR E-Waste and EPR Li-Ion Batteries) enable producers to meet regulatory obligations through a dedicated portal for EPR credit submission and compliance documentation.

Differentiator

Problem solved

Functional benefit

Brands

• Evergreen Recyclekaro Group: Parent brand encompassing all subsidiary entities including Evergreen Vaahan, CGM, Reloop, Evergreen Advanced Technotech, and Evergreen Lithium Recycling
• Recycle 360

Products and services

• E-Waste Management & Recycling End-to-end e-waste recycling services covering IT equipment, consumer electronics, telecom hardware, industrial electronics, and PCB-rich waste streams with compliant collection, processing, and documentation for enterprises and producers.
• Green Metals & Battery Grade Materials Recovery and refining of critical battery metals including cobalt, lithium, nickel, copper, manganese, and aluminium from spent lithium-ion batteries via advanced hydrometallurgical processing, producing battery-grade materials for reuse in battery and electronics manufacturing.
• Vehicle Recycling & PGM Recovery End-of-life vehicle processing with recovery of precious group metals (PGM) including platinum, palladium, rhodium, and gold from catalytic converters and automotive electronics for automotive manufacturers and ELV processing.
• Lithium Battery Systems & Second Life Solutions Second-life applications for EV batteries retaining 70-80% capacity after automotive use, providing energy storage and telecom backup solutions before full recycling, targeted at EV manufacturers and energy storage providers.
• Rare Earth-Bearing Waste Processing Processing of permanent magnets, electronic components, motors, and industrial residues containing rare earth elements including neodymium recovery for renewable energy and electronics sector manufacturers.
• EPR E-Waste Compliance Services Extended Producer Responsibility compliance services for e-waste under E-Waste Management Rules 2022, including collection, transport, recycling, EPR certificate issuance, and CPCB filing support for producers, importers, brand owners, and manufacturers.
• EPR Li-Ion Batteries Compliance Services Extended Producer Responsibility compliance services for lithium-ion batteries under Battery Waste Management Rules (BWMR) 2022, including full compliance documentation and EPR credit issuance for battery manufacturers, importers, and producers.

Quantifiable outcome

• 100,000+ metric tonnes of e-waste and battery material processed
• +2 more outcomes

Named customers21 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• IIT BombaycoreStrategic or Co-development PartnerRecyclekaro collaborates with IIT Bombay as part of a multi-institutional research initiative focused on battery recycling technology development and rare earth element recovery. The partnership supports R&D activities and technology advancement in critical mineral recycling.
• IIT KanpurcoreStrategic or Co-development PartnerRecyclekaro partners with IIT Kanpur for collaborative R&D in battery recycling processes and scientific disposal methods. The partnership contributes to the company's technology development initiatives.
• IIT HyderabadcoreStrategic or Co-development PartnerRecyclekaro collaborates with IIT Hyderabad in a multi-institutional research center focused on battery recycling and rare earth recovery technology. The partnership strengthens the company's R&D capabilities in critical mineral extraction.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Lohum Cleantech: India-headquartered Li-ion battery recycling and critical-mineral recovery company operating hydrometallurgical and pyrometallurgical processes. Directly competes with Recyclekaro on lithium-ion recycling capacity, EPR compliance services, and sale of battery-grade materials to Indian EV and electronics customers.
• Gravita India: Listed Indian recycler with a dominant lead-acid battery recycling base that is expanding into lithium-ion and e-waste streams. Comparable to Recyclekaro on multi-stream battery recycling, EPR/regulatory handling, and sale of recovered metals back into battery supply chains.
• Attero Recycling: One of India's largest e-waste and lithium-ion battery recyclers, with patented hydrometallurgical processes recovering cobalt, lithium, nickel and rare earths. Closely comparable to Recyclekaro in offering end-to-end e-waste + battery recycling, EPR compliance, and critical mineral extraction for Indian enterprise and EV clients.

Broad incumbents

• GEM Co. China's largest e-waste and battery recycling operator, with integrated collection networks and hydrometallurgical recovery of critical battery metals. Comparable to Recyclekaro across the full e-waste-to-battery-materials value chain, but at much larger scale and primarily serving Chinese and global markets.
• Reliance Industries: Indian conglomerate investing heavily in giga-scale battery manufacturing and circular-economy initiatives including battery recycling. Recyclekaro is already a Reliance enterprise client; Reliance's downstream entry into recycling represents both a customer and a potential competitive threat given deep balance sheet.
• Tata Chemicals (Tata Group): Large Indian conglomerate chemicals business pursuing lithium-ion cell materials and battery recycling through group entities. Overlaps with Recyclekaro on Li-ion recycling and recovered cathode materials, but as part of a much broader chemicals and consumer portfolio rather than a recycling pure-play.
• Umicore: Belgian global materials and refining group with a battery materials and recycling business recovering cobalt, nickel and lithium from spent batteries. Comparable to Recyclekaro on critical-mineral recovery technology and supply to battery OEMs, but operating at global scale rather than India-focused.

Regional players

• Li-Cycle: North America-headquartered lithium-ion battery recycler using a hub-and-spoke wet mechanical and hydrometallurgical process to produce black mass and battery-grade materials. Comparable technology stack and revenue mix to Recyclekaro, but operates primarily in the U.S. and Europe rather than India.
• Redwood Materials: U.S.-based battery recycling and cathode-active-material company founded by a former Tesla CTO, recovering lithium, cobalt, nickel and copper from end-of-life batteries. Highly comparable technology and end-market focus to Recyclekaro's Li-ion and critical-mineral recovery business, but U.S./North America-centric.

Emerging players

• BatX Energies: India-based startup focused on lithium-ion battery recycling and production of black mass/battery-grade materials. Directly comparable to Recyclekaro's hydrometallurgical Li-ion recovery value proposition but at an earlier stage and smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@MrRecyclekaro
• Facebookfacebook.com/recyclekaro
• LinkedInlinkedin.com/company/evergreen-recyclekaro-india-private-limited
• InstagramInstagram.com/recyclekaro
• Xx.com/recyclekaro

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Recyclekaro