recycle used lithium-ion batteries. Lithium batteries pose a hazard to the environment due to improper disposal. This report has suggested an effective business model of Business to Business the start-up can implement, which would be helpful for the company to provide its products and value within the manufacturing market. Providing second life to batteries can create better options for electronic manufacturing and improves sustainability for the ecosystem. Therefore, this research has suggested using a Business to Business model for procuring used batteries and recycling them to give them a second life in other businesses and the value it would provide to clients using batteries in manufacturing.
The rise in the use of batteries has become a cause of concern over the years because the disposal of lithium-ion batteries used in cars is a severe polluter to the environment. Disposal of car batteries is usually carried out by pyrometallurgy, which causes significant amounts of pollution for the environment. There is a growing need for alternative solutions that would allow for the reuse and recycling of lithium-ion car batteries for alternative use once its first life cycle gets over. Recycling Vista's start-up company intends to create a business model where the redistribution of used car batteries would improve the approach for recycling lithium-ion batteries across India. The mission statement for the company is to repurpose the used batteries and breathe a second life into them.
The use of lithium-ion batteries was considered the solution to shift from the use of natural resources such as petrol and diesel for fuel in cars. However, the rise in the use of electric cars and lithium-ion batteries is raising issues of proper disposal after the end of its life. It is estimated that more than 12 million tons of lithium-ion batteries are expected to be out of use between 2022 and 2030 (Lim, 2021). This shows an increasing concern regarding the disposal of those batteries, and there is a need for recycling and repurposing of these batteries to reduce the reliance on mining for materials. It would also repurpose the use of the materials available to lessen the need for mining resources.
In countries like India, the rise in the use of electric cars has gradually caused the improper disposal and recycling of the Lithium-ion batteries used in electric vehicles. Currently, only about 5% of lithium-ion batteries are recycled globally, while it is unclear how they are handled (Woollacott, 2021). This gives concerning statistics of the rise in toxic pollutants in the environment from lithium batteries, which also creates an opportunity of repurposing and redistributing the method of recycling lithium-ion batteries for different uses.
The potential solution for the rising concern for improper disposal of Lithium-ion batteries has given way to the opportunity of repurposing them through recycling. There are possible solutions for reusing and recycling Lithium-ion batteries to provide second life and a closed-loop recycling process. Batteries in electric vehicles experience a drop in capacity after it reaches 70-80% of its potential over the years (Priya, 2020). This increases the opportunities in refurbishing the batteries with a diminished capacity, which can be used to charge smaller load appliances in use. As Garoleet al. (2020) discussed, recovering valuable or spent materials or catalysts in the batteries repurposes recycled batteries into portable batteries for further use. This implies recycling the materials that make up a lithium-ion battery for portable batteries or reusing it leads to refurbishing it for future use in different appliances. This has led to the free redistribution of used catalysts for reusing the batteries with lowered potential.
Figure 1: Electric Vehicle Battery Life Cycle
(Source: Priya, 2020)
As seen in Figure 1, once the capacity of the batteries in electric vehicles reduces, they can be refurbished and given a second life for other appliances. Since car batteries require a high voltage to propel the car, refurbished batteries can be used for low voltage and wattage appliances.
The start-up company would be based on a business model that takes a retired car battery and refurbishes and repurposes it for use in other electronic appliances, increasing the shelf life. This company would be based on a Business to Business (B2B) business model to make its way into the recycling battery industry. Paridaet al. (2019) mentioned that a significant potential for business innovation in business-to-business settings is that it provides revenue and value-producing opportunities
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