LICO Materials developed a process to recover graphite from end-of-life lithium-ion batteries and battery manufacturing scrap, becoming the first company in India to achieve this. The recovered graphite will be supplied to Epsilon Advanced Materials (EAM) as a secondary feedstock for graphite anode production, creating a new circular pathway for battery materials. The collaboration could help India reduce its dependence on virgin and imported graphite while improving resource efficiency across the growing battery value chain.
Graphite Supply Chain Faces Growing Pressure
Graphite accounts for approximately 20–30% of a lithium-ion battery’s weight and serves as a critical material for battery anodes. However, the global graphite supply chain remains highly concentrated. China currently accounts for more than 90% of global graphite refining capacity and around 80% of mining, highlighting the need for diversified and resilient sources of the material. Meanwhile, India’s rapidly expanding battery manufacturing sector is driving additional demand for graphite-based anode materials.
Battery Growth to Drive Graphite Demand in India
The Ministry of Heavy Industries expects India’s lithium-ion battery demand to reach 210 GWh by 2030. Meeting this demand could require approximately 200,000–230,000 tons of graphite anode material annually. Therefore, recovering graphite from used batteries and manufacturing scrap could provide an important secondary source of the critical material. It could also reduce pressure on virgin resources while supporting India’s efforts to develop a more self-reliant battery materials ecosystem.
LICO Develops Graphite Recovery Process
LICO will use its proprietary critical mineral recovery processes to extract graphite from end-of-life batteries and battery manufacturing waste. The recovered material will then be supplied to EAM for further processing and qualification. Gaurav Dolwani, CEO and Founder, LICO Materials, said, “Graphite is a critical material for the battery industry, yet its supply chain remains highly concentrated in China. Recovered graphite gives us an opportunity to retain material that is already within the battery ecosystem and return it to productive use. Supplying this recovered graphite to Epsilon Advanced Materials marks a breakthrough in our journey beyond battery recycling and brings us closer to closing the graphite loop.” Following processing and development work, samples of the recovered graphite are expected to be available for customer validation by the end of 2026.
Recovered Graphite to Return to Battery Production
EAM will process and qualify the recovered graphite before using it as a secondary feedstock in its graphite anode materials platform. Epsilon Advanced Materials manufactures synthetic, natural and blended graphite anode materials for lithium-ion batteries used in electric vehicles, battery energy storage systems and other applications. By incorporating recovered graphite into its feedstock mix, EAM can diversify its material sources while improving resource efficiency across the battery materials value chain.
Partnership Supports Battery Material Circularity
Vikram Handa, Managing Director, Epsilon Advanced Materials, said, “As global battery manufacturing expands, diversifying sources of graphite has become increasingly important. Recovered graphite provides an opportunity to complement conventional feedstocks while retaining valuable material within the battery ecosystem. Our work with LICO creates a pathway to bring recovered graphite back into advanced anode material production and strengthens the circularity of the battery materials value chain.” The collaboration combines LICO’s graphite recovery technology with EAM’s anode material manufacturing capabilities. As a result, valuable graphite can remain within the battery ecosystem for longer instead of being lost after battery use or manufacturing. As reported by manufacturingtodayindia.com, the partnership marks LICO’s expansion beyond conventional battery recycling. By recovering and reintegrating critical materials, the company aims to support a more circular, resilient and resource-efficient battery industry in India.
