EU-India join forces to promote start-up collaboration on Recycling of E-Vehicles Batteries under Trade and Technology Council- (Press Information Bureau) (09 Apr 2024)

MANU/PIBU/0328/2024

Commercial

The European Union (EU) and India today launched an Expression of Interest (EoI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event. The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector. The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon neutrality in both India and the EU. This initiative takes place under the India-EU Trade & Technology Council (TTC), announced by India and the European Commission in New Delhi on 25th April 2022.

This event is also part of a broader effort to promote a sustainable agenda, foster innovation, and forge stronger economic relations between the European Union and India.

The EoI for the Matchmaking Event launched today, provides a platform for Indian and EU startups/SMEs in the field of EV Battery Recycling Technologies to pitch their innovative solutions and engage with Indian/European venture capitalists and solution adopters. Twelve innovators, six each from India and the EU will be selected and get a pitching opportunity during the Matchmaking Event, scheduled for June 2024. Six finalists (three from the EU and three from India) will be selected following their pitching presentations and awarded the possibility to visit India and the EU, respectively.

The key highlights of the event are: (i) to identify, support, and promote startups/SMEs dedicated to advancing the field of battery recycling technologies for EV; and (ii) to facilitate cooperation, explore potential trade avenues, deepen customer relations and to explore investment avenues for the shortlisted startups/SMEs.

The Matchmaking Event under India-EU TTC Working Group 2 offers Indian startups/SMEs an exclusive platform to demonstrate their expertise in battery recycling technologies. It provides a chance for Indian innovators to establish strategic alliances with their counterparts in the EU, accelerating the development of advanced battery recycling techniques focused on waste minimization and resource sustainability.

"Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy", said Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.

Mr. Marc Lemaître, Director-General for Research and Innovation at the European Commission emphasized the need for collaboration dedicated to the EV Battery Recycling industry and said, "The match-making event is a step-ahead to unlock innovative possibilities leading to a green and circular economy. We encourage innovators from the EU to seize this opportunity and explore potential collaborations with their Indian counterparts."

Interested startups and SMEs from India and the EU are invited to submit their Expressions of Interest (EoI) by 30th April, 2024.

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 and India in April 2022. Established on 6 February 2023, this strategic coordination mechanism allows both sides to tackle challenges at the nexus of trade, trusted technology, security and deepens cooperation in these fields. Establishing India-EU TTC is a key step towards a strengthened strategic partnership for 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 EU-India bilateral trade, which is at historical highs, with 120 billion worth of goods traded in 2022. In 2022, 17 billion of digital products and services were traded.

The TTC consists of three Working Groups:

(1) Working Group 1 on Strategic Technologies, Digital Governance and Digital Connectivity.

(2) Working Group 2 on Green and Clean Energy Technologies; and

(3) 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 today is one of the key 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.

Tags : COLLABORATION RECYCLING E-VEHICLES BATTERIES