LICO to Supply Recovered Graphite From Lithium-Ion Batteries to Epsilon for Anode Material Production

LICO Materials Pvt. Ltd. (LICO) has developed a process to recover graphite from end-of-life lithium-ion batteries and battery manufacturing scrap, with plans to supply the recovered material to Epsilon Advanced Materials Pvt. Ltd. (EAM) for use as a secondary feedstock in graphite anode materials.

The initiative is aimed at establishing a closed-loop pathway in which graphite recovered from used batteries and manufacturing waste can be reintroduced into the production of new battery materials.

Graphite is a key material used in lithium-ion battery anodes and accounts for around 20–30% of a battery’s weight. According to the companies, the global graphite supply chain remains concentrated, with China accounting for more than 90% of graphite refining capacity and around 80% of mining, while also producing more than 90% of anode active materials.

The International Energy Agency (IEA) expects China to continue supplying around 80% of battery-grade graphite by 2035, increasing the focus on alternative and regional sources of the material.

In India, rising battery manufacturing is expected to drive demand for graphite. The Ministry of Heavy Industries (MHI) estimates that lithium-ion battery demand in India could reach 210 GWh by 2030, requiring around 200,000–230,000 tonnes of graphite anode material annually.

LICO said recovering graphite from end-of-life batteries and manufacturing scrap could provide an additional source of the material while reducing reliance on virgin and imported resources.

“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,” said Gaurav Dolwani, CEO and Founder, LICO Materials.

Under the initiative, LICO will recover graphite through its critical mineral recovery processes and supply the material to EAM. EAM will then process and qualify the recovered graphite for use as a secondary feedstock within its graphite anode materials platform.

The companies said samples are expected to be available for customer validation by the end of 2026, following internal development and testing.

EAM manufactures synthetic, natural and blended graphite anode materials for lithium-ion battery applications, including electric vehicles (EVs) and battery energy storage systems (BESS).

Vikram Handa, Managing Director of Epsilon Advanced Materials, said the recovered graphite could complement conventional feedstocks and help retain valuable material within the battery supply chain.

The collaboration forms part of LICO’s broader focus on recovering critical materials from used batteries and manufacturing waste, while EAM is evaluating recovered graphite as an additional feedstock for its anode material production.