EU-India join partner to recycle EV batteries; invite EoI from start-ups

Battery recycling is critical as Electric Vehicles are catching up in the automobile sector.

The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector.

The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon neutrality in both India and the EU, Office of Principal Scientific Advisor to Government of India said in a release.

This initiative takes place under the India-EU Trade & Technology Council (TTC), announced by India and the European Commission in April 2022.

This event is also part of a broader effort to promote a sustainable agenda, foster innovation, and forge stronger economic relations between the European Union and India.

The EoI for the Matchmaking Event launched today, provides a platform for Indian and EU startups/SMEs in the field of EV Battery Recycling Technologies to pitch their innovative solutions and engage with Indian/European venture capitalists and solution adopters.

Twelve innovators, six each from India and the EU will be selected and get a pitching opportunity during the Matchmaking Event, scheduled for June 2024. Six finalists (three from the EU and three from India) will be selected following their pitching presentations and awarded the possibility to visit India and the EU, respectively.

The key highlights of the event are: (i) to identify, support, and promote startups/SMEs dedicated to advancing the field of battery recycling technologies for EV; and (ii) to facilitate cooperation, explore potential trade avenues, deepen customer relations and to explore investment avenues for the shortlisted startups/SMEs.

“Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy,” said Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.

Marc Lemaître, Director-General for Research and Innovation at the European Commission, emphasized the need for collaboration dedicated to the EV Battery Recycling industry and said, "The match-making event is a step ahead to unlock innovative possibilities leading to a green and circular economy. We encourage innovators from the EU to seize this opportunity and explore potential collaborations with their Indian counterparts."

Interested startups and SMEs from India and the EU are invited to submit their Expressions of Interest (EoI) by 30th April 2024.

(With UNI inputs)