XProEM and ZIptrax have identified each other’s strengths and potential areas of partnership. With a solid logistics and battery collection network and physical separation process of Ziptrax combined with a proprietary chemical recycling technology and direct restoration technology from XProEM, this partnership will ensure that spent LIBs are recycled locally in an economical and sustainable manner in which the critical battery materials are fed back to the battery supply chain. This partnership is fully committed to support India’s growth as an EV powerhouse in the next decade. The companies will be looking to raise strategic investment of USD 2 million in 2021-22 and the target is to capture a significant market share with a processing capacity of over 1,500 tonnes per annum (TPA) by next year and over 5,000 TPA by 2025. We have the target to recycle 5,000 tonnes of batteries by 2025 and generate revenues of close to Rs 250 odd crores (at current prices) along with a significant market share in terms of both second-life battery repurposing as well as cathode production.