Revolutionizing Lithium Extraction: Minimines' Affordable and Sustainable Solution to Drive EV Adoption in India

Minimines, a clean technology startup based in Bangalore, claims to have a potential solution that could reduce the cost of electric vehicles (EVs) in India. The primary contributor to the higher upfront cost of EVs is the battery pack, specifically the lithium-ion cells, which India currently imports from countries like China and South Korea. EV batteries can account for up to 40% of the total cost of an EV, according to industry estimates.

To make EVs more affordable, it's crucial for India to manufacture its own lithium-ion cells, as suggested by NITI Aayog's adviser on infrastructure connectivity, transport, and e-mobility, Sudhendu Sinha. Without large lithium reserves, recycling existing batteries and electronic equipment containing lithium is a feasible starting point for India. Minimines claims to have developed an efficient and environmentally friendly process for extracting and recycling lithium and other precious metals from batteries and industrial byproducts.

Founded in 2021 by Anupam Kumar and Arvind Bhardwaj, the startup's proprietary hybrid-hydrometallurgy process can achieve nearly 96% purity and extract elements like lithium and precious metals in their elemental forms. Importantly, the process generates no water, residual waste, or carbon dioxide emissions, ensuring its eco-friendliness. Minimines aims to help India become more self-reliant by recycling valuable and recyclable lithium-ion waste, which could potentially reduce the cost of cells and batteries used in electric vehicles.

The startup's extraction technology has been validated by NITI Aayog, and it received a $500,000 grant from Oil India Ltd and certification from The United Nations Industrial Development Organization (UNIDO). Minimines uses a hybrid hydrometallurgy process with three key steps: extraction, separation, and beneficiation, achieving 96% purity in elemental lithium and other metals. The process uses water as a solvent, which is reused, minimizing effluent waste. The extracted metals are sold to various industries, including EV battery manufacturers, grease production, pharmaceuticals, catalyst manufacturing, and the metallurgical industry.

The startup has identified several revenue streams, including commodity sales, licensing/royalties for its proprietary technology, and sales of carbon credits due to its non-polluting process. Minimines is planning to raise funds to establish a full-scale facility to further its mission of making EVs more affordable in India.