75F | IoT Building Automation & Energy Management
75F is a building automation technology company that designs, manufactures, and operates an Internet of Things (IoT) based Building Management…
Metastable Materials | Battery Recycling & Metal Recovery
Sustainable Development Goals
Company Overview
Metastable Materials is a Bengaluru-based deep-tech company that recovers critical metals from spent lithium-ion batteries and sells them as refined commodity products to industrial buyers. Incorporated in October 2021 by IIT Roorkee graduates Shubham Vishvakarma and Manikumar Uppala, the company positions itself as a raw material supplier and refiner rather than a conventional waste handler, treating battery waste as an ore-like feedstock for metal recovery.
At the core of its operations is a patented and trademarked process called Integrated Carbothermal Reduction, which the company describes as chemical-free. Batteries are dismantled under water to reduce fire and toxic gas risks, and the resulting reaction allows metals to be separated using physical properties such as density and magnetism rather than external chemical reagents.
The company operates two manufacturing facilities, a site in Bengaluru’s Harohalli Industrial Area and a second facility in Delhi chosen for proximity to battery feedstock supply. It designs and builds much of its own processing equipment in-house, including separators, agitators, furnaces, and shredders, and operates a zero-liquid-discharge water system.
Metastable has raised two funding rounds since its founding, a pre-seed round in January 2022 and a seed round in 2023, and has grown to a team of more than 50 employees. As of 2026, the company’s stated focus is scaling its processing capacity and expanding its facility footprint within India.
Why These SDGs Matter
Metastable Materials directly supports SDG 12 by recovering critical metals from spent lithium-ion batteries and returning them to industrial supply chains rather than sending them to landfill or informal, unsafe processing. Its chemical-free extraction process and zero-liquid-discharge water system reflect the resource efficiency and reduced-waste-generation goals at the center of responsible consumption and production. The company’s stated aim of building circular supply chains for battery metals reduces dependence on virgin mining, extending the useful life of materials already in circulation. On SDG 13, recovering metals through a lower-energy, chemical-free process rather than conventional smelting or mining reduces the emissions intensity associated with sourcing critical minerals for batteries and other clean-energy applications, supporting the broader decarbonization of the battery and electric mobility value chain that the company’s customer base operates within.
Products & Services
- End-to-end lithium-ion battery recycling and metal recovery services
- Recovery of lithium, cobalt, nickel, copper and aluminium from spent batteries
- Refined commodity-grade metal products for industrial buyers
- Custom metal purity and specification development for manufacturers
- Multi-layered, heat- and fire-resistant battery transport packaging
- Battery waste procurement and collection logistics
- In-house designed processing equipment for metal separation and refining
Business Challenges Solved
- India’s reliance on imported critical metals for battery manufacturing
- Safe handling and transport of hazardous end-of-life battery waste
- High cost and chemical intensity of conventional battery recycling methods
- Fragmented, informal collection of spent battery feedstock
- Meeting strict purity and contamination specifications for industrial metal buyers
- Environmental risk from landfilled lithium-ion battery waste
Approach & Methodology
Metastable Materials’ process runs end to end, from battery procurement and dismantling through to refining and metal recovery. Batteries are dismantled underwater, a method the company says eliminates the fire risk and toxic gas release associated with conventional mechanical crushing.
At the center of the process is Integrated Carbothermal Reduction, a patented and trademarked reaction in which materials inside the battery react with one another rather than with externally introduced chemicals. Once this reaction is complete, individual metals are separated using their physical properties: copper is recovered under pressure, lithium is dissolved in water, and nickel and cobalt are separated through magnetism.
The company has developed most of its production machinery in-house, including magnetic separators, density separators, agitators, boilers, furnaces, mills and shredders, and operates what it describes as one of India’s most compact zero-liquid-discharge systems, recycling process water on site. The company holds five patents relating to its extraction technology, including one international filing.
Before supplying at scale, Metastable works with individual customers to develop product specifications, such as acceptable contamination thresholds for particular end uses, reflecting a build-to-specification approach to industrial metal supply rather than a standardized commodity output alone.
Market Position
Metastable Materials operates in India’s lithium-ion battery recycling and critical minerals recovery segment, competing with companies including Attero Recycling, Lohum, BatX Energies, Tata Chemicals, and Ace Green Recycling. Rather than serving the battery industry exclusively, its refined metal outputs are sold across multiple downstream industries: lithium to glass, ceramics, cement and grease manufacturers; nickel into the stainless-steel supply chain; cobalt into pigment and magnet manufacturing; copper into casting and bus bar production; and aluminium into automotive casting applications. Pricing is benchmarked against commodity exchanges including the London Metal Exchange, Shanghai Metal Exchange, MCX India, and the Bombay Metal Exchange, with final terms depending on purity, volume and customer relationships. The company began generating revenue in 2025 and has stated it is prioritizing capacity utilization and geographic expansion over the near term.
Procurement Considerations
- Confirm current processing capacity and facility utilization against your volume requirements
- Verify metal purity and contamination specifications against your application’s tolerances
- Assess logistics and packaging arrangements for hazardous battery transport
- Review facility locations relative to your feedstock or delivery routes
- Clarify current patent status and any pending certifications before contracting
- Understand pricing mechanisms tied to commodity metal exchange benchmarks
Funding, Recognition & Ecosystem
- Pre-seed funding round (January 2022) led by Log9 Materials co-founders Akshay Singhal and Kartik Hajela, with participation from Archana Priyadarshini and Sanjiv Rangrass
- Seed funding round (2023) from Surge (Peak XV Partners’ accelerator program), Speciale Invest, Theia Ventures and Climate9ers
- Selected for the 8th cohort of Sequoia Capital India & Southeast Asia’s Surge accelerator program
- Total disclosed funding of approximately $2.79 million across two rounds, per Tracxn
- Five patents held relating to its extraction technology, including one international filing
Natnavi Analysis
Metastable Materials addresses a structural gap in India’s battery supply chain: the country imports most of the critical metals used in battery manufacturing despite generating a growing volume of spent lithium-ion batteries domestically. By treating that waste stream as a recoverable ore source rather than a disposal problem, the company is positioned within a segment the industry increasingly views as strategically important as electric vehicle adoption accelerates.
Its differentiation rests on a chemical-free extraction claim and a build-your-own-equipment approach that has produced a compact zero-liquid-discharge system and five patents. Selling refined metals into diverse downstream industries, rather than only back into battery manufacturing, is a notable structural choice that broadens its potential customer base beyond the battery sector alone.
At the same time, the company remains an early-stage business. It has disclosed only two funding rounds to date, has not published independently audited figures for recovery rates or revenue, and its facility footprint remains limited to two sites. Its long-term significance will depend on whether it can scale processing utilization and expand capacity as it has stated it intends to, in a segment where several well-funded domestic and international competitors are also active.
Sources & References
- YourStory – From battery waste to industrial metals: Inside Metastable Materials’ Bengaluru refinery
- Inc42 – Battery Recycling Startup Metastable Materials Raises Funding From Sequoia’s Surge, Others
- Recycling Today – Metastable Materials offers battery recycling option
- Business Standard – Metastable Materials plans to expand high-yield battery recycling capacity
- pv magazine India – Metastable Materials commissions chemical-free recycling unit for dead lithium batteries
Founded: 2021
Company Stage: Startup
Headquarters
Bengaluru, Karnataka, India
Bengaluru, Karnataka, India
Geographic Presence
Metastable Materials operates two manufacturing facilities in India, in Bengaluru’s Harohalli Industrial Area and in Delhi, the latter chosen for proximity to battery feedstock supply. It sources spent batteries from suppliers ranging from local scrap dealers to large automotive OEMs across India, and is evaluating additional sites, including in Rajasthan, for further domestic expansion.
Metastable Materials operates two manufacturing facilities in India, in Bengaluru’s Harohalli Industrial Area and in Delhi, the latter chosen for proximity to battery feedstock supply. It sources spent batteries from suppliers ranging from local scrap dealers to large automotive OEMs across India, and is evaluating additional sites, including in Rajasthan, for further domestic expansion.
Solution Type
Manufacturer, Service Provider, Technology Provider
Manufacturer, Service Provider, Technology Provider
Sustainability Outcomes
Carbon Reduction, Critical Minerals Recovery, Resource Efficiency, Waste Reduction
Carbon Reduction, Critical Minerals Recovery, Resource Efficiency, Waste Reduction
Industries Served
Automotive & Electric Mobility, Battery and Energy Storage, Chemicals & Materials, Manufacturing, Mining & Metals
Automotive & Electric Mobility, Battery and Energy Storage, Chemicals & Materials, Manufacturing, Mining & Metals
Last Reviewed: August 21, 2026
Related Companies
Ace Green Recycling | Battery Recycling Technology
Ace Green Recycling, Inc. is a battery recycling technology company that develops proprietary, hydrometallurgical processes to recover critical materials from…
AgBoost Tech Consultancy | Geospatial AgriTech Solutions
AgBoost Tech Consultancy (ATC) is an India-based geospatial and artificial intelligence technology firm that builds decision-support systems for the agriculture,…
