Set up at a cost of around INR 4-5 crore, this is the second such plant in the state of Madhya Pradesh plant is fully equipped with adequate technology to extract metals from e-waste, which is based on manual dismantling, segregation, and recycling method
New Delhi (India), January 31: Comprehensive and complete e-waste recycling solutions provider Prometheus has announced its plans to launch a new e-waste recycling plant in Gwalior. The second such plant to come up in the state of Madhya Pradesh, Prometheus has been promoted by the founders of Petonic, researchers, ideators, and serial entrepreneurs Yashraj and Yuvraj Bhardwaj. The company is already in place with approval from the Pollution Control Board for handling hazardous and e-waste.
The company is fully equipped with adequate technology to extract metals from e-waste, which is based on manual dismantling, segregation, and recycling methods. The company deploys a dry shredding and separating method to extract metals from printed circuit boards, which are then granulated to less than 5mm size and eventually sent to an electrostatic separator which ensures complete separation of metals and hazardous content. On the sustainability front, the company does not generate any emissions in the form of water or dust.
Prometheus collects e-waste from leading companies across India through contractual procurement and also buys it from various institutes, organizations, and smaller companies on a B2B model. It is currently working for Haier through a PRO and is in discussion with Samsung, Panasonic, Godrej, and LG for annual contracts for the year 2022.
The e-waste collected by the company is segregated, and usable devices are refurbished. These are then sold through online marketplaces and dealers’ networks. Commodities like copper, aluminium, iron, etc. are extracted from waste that is of no use. These are further sold to foundries and factories that produce metal castings.
Commenting on the launch plan of its new e-waste recycling plant, Mr. Afzal Malik, Plant Director Prometheus said, “India which is a young country, which is fast undergoing a Digital transformation. One side that needs attention as we scale up our digital and electronic capabilities is the electronic waste that has been increasing and that precautions are better than cure. That led us to do something that will help in ensuring a sustainable future even as we grow as a nation. It is important to work on the concept of a circular economy that can reduce the increasing pressure on our natural resources.”
Reiterating the company’s commitment to ensuring sustainable and inclusive growth, Mr. Shekhar Sharma, Chief Operating Officer of Prometheus, said, “The past two years have been very challenging on the business front for almost everybody. COVID-19 has impacted the entire value chain across businesses. However, despite the odds being stacked against us, we have been reacted fast and secured a significant milestone as a company. The new plant that will soon come up is a testimony of the same.”
The company has a target to achieve the re-cycling of approximately 5000 metric tonnes of e-waste every year.
Prometheus has plans to set up 28 more e-waste recycling plants in the country, each of which needs an outlay of around USD 1 Million. The company is already in talks with investors to put its expansions plans into action and has an ambitious target of achieving recycling 1 lakh metric tonne of e-waste.
With a commitment to an E-waste free world, Prometheus E-waste recycling provides modern solutions for proper and safe disposal for all your e-waste. Your electronics deserve a proper goodbye, and we have comprehensive solutions for all your E-waste problems. We collect e-waste across the nation through contractual procurement and discard it through sequential segregation, dismantling, and recycling techniques.
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