NEW DELHI : India-European Union Trade and Technology Council (TTC) Working Group 2 jointly organized the startup matchmaking event featuring twelve high-impact solution providers in Battery Recycling Technologies for Electric Vehicles on June 20, 2024. Following the call for Expression of Interest, an independent Committee of Experts from each side shortlisted these twelve startups through a rigorous process based on scientific merit, market readiness, and prospects for cooperation. This initiative aligns with India and the EU’s commitment to promote a sustainable agenda, foster innovation, and forge stronger economic relations between India and the European Union.
The event offered the startups/SMEs an exclusive platform to pitch their innovative technologies. Start-ups operating across the battery recycling value chain, covering collection to valuable mineral extraction that participated in the matchmaking event included Lohum, LW3 Pvt Ltd., BatX Energies, Evergreen Lithium Recycling Pvt Ltd., Metastable Materials Pvt Ltd., CENALL Waste Management LLP, from the Indian side along with the startups from EU member states viz. Alterity, Ecomet Refining, Eneris, Primobius, RockTech, and Tozero.
The matchmaking event commenced with opening remarks from H.E. Mr. Saurabh Kumar, Ambassador of India to Belgium, Luxembourg, and the EU, and H.E. Mr. Herve Delphin, Ambassador, Delegation of the European Union to India. Their addresses highlighted the importance of fostering innovation and cooperation in the field of green technologies, particularly in the rapidly growing EV sector.
This was followed by key interventions from Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, and Mr. Marc Lemaitre, Director-General for Research and Innovation at the European Commission.
“This Matchmaking event today brings together the best talents and technologies in the battery recycling space on both sides, giving them an exclusive platform for exchange, networking, and prospective investments. We believe the exchange trip, awarded to three Indian and three EU start-ups, to visit EV battery recycling facilities on either side would be highly beneficial. It will enhance their insights and access to the EV landscape and ecosystems in both regions,” said Prof. Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.
Mr. Marc Lemaitre, Director-General for Research and Innovation at the European Commission, emphasised the importance of an innovation-led EU-India partnership. “Every step towards advanced battery recycling is a significant carbon-win for our environment. This matchmaking event is such a step by bringing together innovative startups from both regions that want to scale up green solutions under the umbrella of the EU-India Trade and Technology Council”.
The event was also joined by Dr. Parvinder Maini, Scientific Secretary, Office of PSA, Sh. Sukumar Mishra, Director, IIT (ISM) Dhanbad, and Sh. Karthick Athmanathan, Honorary PSA Fellow.
As a next step, three start-ups each from the India and EU will be awarded the opportunity to visit the EU and India, respectively for a week-long market immersion experience. During their visit, the three selected companies will be able to engage directly with interested stakeholders, explore potential collaborations, and gain insights into the local market landscape. This visit presents prospects of establishing pilot projects, commercial opportunities, and/or co-development initiatives.
About the Trade and Technology Council set up by India and the EU
The India-EU Trade and Technology Council (TTC) was first announced by the European Commission President, Ursula von der Leyen, and India’s Prime Minister, Shri Narendra Modi, in April 2022. Established on February 6, 2023, this strategic coordination mechanism allows both sides to tackle challenges at the nexus of trade, trusted technology, and security and deepens cooperation in these fields. Establishing India-EU TTC is a key step towards a strengthened strategic partnership for the benefit of all people in India and the EU.
The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners. Geostrategic challenges have reinforced the EU and India’s common interest in ensuring security, prosperity, and sustainable development based on shared values.
The TTC will help increase India- EU bilateral trade, which is at historical highs, with 120 billion euros worth of goods traded in 2022. In 2022, 17 billion euros of digital products and services were traded.
The TTC consists of three Working Groups:
- Working Group 1 on Strategic Technologies, Digital Governance and Digital Connectivity
- Working Group 2 on Green and Clean Energy Technologies; and
- Working Group 3 on Trade, Investment and Resilient Value Chains.
Working Groups are now jointly working to advance identified objectives and key actions. The matchmaking event launched is one of the keys agreed short-term actions under Working Group 2 on Green and Clean Energy Technologies. The India-EU TTC Working Group 2 on Green and Clean Energy Technologies is being co-chaired from the Indian side by the Office of the Principal Scientific Adviser to the Government of India and from the EU side by the Directorate-General for Research and Innovation of the European Commission.