The European Union and India on Tuesday collaborated to launch an Expression of Interest (EoI) aimed at startups specialising in Battery Recycling Technologies for Electric Vehicles (EVs).
The initiative aims to promote collaboration between small and medium-sized enterprises (SMEs) and startups from both Europe and India in the field of clean and green technologies.
It will facilitate knowledge exchange and expertise sharing under the umbrella of the India-EU Trade & Technology Council (TTC), announced in New Delhi on April 25, 2022.
The goal is to bolster the circularity of rare materials and facilitate the transition toward carbon neutrality in both India and the EU.
The EoI provides a platform for startups and SMEs from both India and the EU to showcase their innovative solutions in EV Battery Recycling Technologies. Twelve innovators, six from each region, will be selected for a pitching opportunity during a “Matchmaking Event” scheduled for June 2024.
Following the pitching presentations, six finalists (three from each region) will be chosen to visit either India or the EU, offering them the chance to explore potential trade avenues, deepen customer relations, and seek investment opportunities.
The key objectives of the event include identifying, supporting, and promoting startups/SMEs dedicated to advancing battery recycling technologies for EVs, as well as facilitating cooperation and exploring investment avenues for the selected startups/SMEs.
Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, expressed commitment to fostering collaboration with EU innovators, emphasizing the importance of sustainability and innovation in driving industry expansion.
Mr. Marc Lemaître, Director-General for Research and Innovation at the European Commission, highlighted the significance of collaboration in the EV battery recycling industry, encouraging EU innovators to seize the opportunity for potential collaborations with Indian counterparts.
Startups and SMEs from India and the EU interested in participating are invited to submit their Expressions of Interest (EoI) by April 30, 2024.