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In a strategic move to enhance the recycling of electric vehicle (EV) batteries, the European Union (EU) and India have decalred a collaborative initiative aimed at fostering start-up partnerships in this critical environmental and technological domain. The collaboration falls under the ambit of the India-EU Trade and Technology Council (TTC), which was established in New Delhi on April 25, 2022, highlighting the joint commitment to sustainable development and technological innovation.
The partnership was formalised through the launch of an Expression of Interest (EoI) for startups engaged in battery recycling technologies for electric vehicles. This initiative is designed to enhance cooperation between small and medium-sized enterprises (SMEs) and startups from both regions, fostering an exchange of knowledge and expertise that is crucial for advancing circular economy practices and achieving carbon neutrality goals.
Scheduled for June 2024, a matchmaking event will serve as the centerpiece of this initiative, providing a platform for selected innovators from the EU and India to showcase their solutions. Twelve startups, six from each region, will be chosen to pitch their technologies, with six finalists being afforded the opportunity to visit their counterparts' regions, thereby facilitating direct interaction and potential collaborative ventures.
The endeavor is aimed not only at identifying and supporting startups and SMEs at the forefront of battery recycling technology but also at exploring new trade avenues, deepening customer relations, and uncovering investment opportunities for these pioneering companies.
“Our objective is to harmonise 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."
Startups and SMEs from both the EU and India are invited to submit their Expressions of Interest by April 30, 2024, marking an important step towards international cooperation in the critical area of EV battery recycling.
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