New Delhi, June 25 -- The Technology Development Board (TDB), functioning under the Department of Science and Technology, has extended financial assistance to Gurugram-based BatX Energies Pvt Ltd to scale up its innovative lithium-ion battery recycling project.

The initiative aims to recover up to 99 percent of critical materials such as lithium, cobalt, nickel, and manganese from used batteries, the Ministry of Science & Technology said in a statement.

Titled "Technologies for Generation of Battery Grade Materials and Value Addition through Closed Loop," the project is centered on commercialising a proprietary hydrometallurgical process developed by BatX Energies.

The company's patented, low-temperature, low-pressure technology suppor...