About the Company
BatX Energies was founded in 2020 with a vision to revolutionize battery recycling and sustainable energy solutions in India. Headquartered in Gurugram, India, the company specializes in the extraction and repurposing of valuable materials from lithium-ion batteries, contributing to a circular economy. BatX serves industries such as electric mobility, energy storage, and consumer electronics, ensuring an eco-friendly and cost-effective approach to battery lifecycle management.
Business Model
BatX operates through the following key business segments:
a) Battery Recycling & Material Recovery
Description: Extracts valuable materials such as lithium, cobalt, and nickel from used batteries.
Key Clients and Markets: Serves electric mobility, energy storage, and consumer electronics industries.
b) Second-Life Battery Solutions
Description: Repurposes used batteries for secondary applications like energy storage solutions.
Competitive Advantage: Provides cost-effective and sustainable alternatives to new battery production.
c) Revenue Streams
BatX generates revenue through:
- Battery Recycling Services: Processing end-of-life lithium-ion batteries.
- Material Recovery: Selling extracted materials like lithium, cobalt, and nickel.
- Second-Life Battery Solutions: Supplying repurposed batteries for industrial and commercial use.
What Problem is the Startup Addressing?
BatX aims to tackle environmental and resource scarcity challenges associated with battery waste. The rapid rise in EVs and electronics has led to an increase in battery disposal issues, and BatX addresses these challenges through:
- Sustainable Recycling: Reducing battery waste and minimizing environmental impact.
- Resource Recovery: Extracting and reusing critical materials to reduce dependency on mining.
- Second-Life Solutions: Extending battery life for further use in energy storage applications.
By doing so, BatX enhances sustainability in the battery industry while supporting India’s transition to a greener economy.
Key Financial Numbers
- Revenue (Latest): ₹12.5 crore ($1.5M) as of March 31, 2024.
- Profitability: ₹3.2 crore ($380K) as of March 31, 2024.
- Growth Rate: 80% year-over-year growth.
- Funding: Raised $5 million from Transition VC, JITO Angel Network, and LetsVenture.
- Market Valuation: ₹250 crore ($30M) as of March 31, 2024.
About the Founders
- Dheeraj Sinha – Co-Founder & CEO
Education: B.Tech in Mechanical Engineering from IIT Roorkee
Professional Background: Extensive experience in sustainable energy solutions and battery recycling. Role in Company: Leads strategy, operations, and sustainability initiatives. - Aayush Jha – Co-Founder & COO
Education: B.Tech in Chemical Engineering from NIT Trichy
Background: Strong expertise in operations and supply chain management. Contributions: Oversees production, logistics, and process optimization.
