look news india
Lucknow, 21 October. The effect of solid law and order and industry-supported policies of the Yogi government is visible in every district of the state. In this sequence, Meerut’s deep tech startup Circology Cleantech Private Limited has planned to invest about Rs 200 crore in the state. The company has signed an MoU with Invest UP to set up a lithium-ion battery and rare earth refinery in Meerut. This project will provide direct employment to about 300 people and indirect employment to 1,000 people.
UP Startup Mission CEO Sumit Mahajan said that the Yogi government is emphasizing on encouraging local entrepreneurs, startups and technology-based industries. In this direction, through UP Startup Mission, efforts are being made to convert new ideas into business projects in the state and to provide opportunities to startups to move forward. The proposed project in Meerut is also an important step towards connecting the local startups of the state with big industrial investment. This is likely to promote the development of new technology based industries in Western Uttar Pradesh. Circology’s refinery will be developed in a phased manner. It plans to process 10,000 tonnes of material per year once it reaches full capacity.
Critical minerals such as lithium, cobalt and nickel will be recovered from used lithium-ion batteries at the refinery. In addition, rare earth elements such as neodymium, dysprosium and terbium will also be extracted from old permanent magnets used in electronic devices, hard drives and electric vehicle motors. These minerals are used in electric vehicles, renewable energy, electronics and defense sectors. From batteries of electric vehicles to modern technical equipment and plants related to energy production, they play an important role. In such a situation, recovering these minerals from old batteries and equipment can be helpful in better use of resources as well as in strengthening the domestic supply system.
The CEO said that almost the entire domestic requirement of lithium, cobalt and nickel is met by imports. Similarly, dependence on imports in the supply of rare earth magnets is also a major challenge. In such a situation, it has become necessary to develop recycling and refining capacity within the country. The Government of India has also taken several steps to promote self-reliance in the critical minerals sector. Under the National Critical Minerals Mission, emphasis is being laid on strengthening the entire supply chain of critical minerals. It also includes an incentive scheme of Rs 1,500 crore to encourage recycling of critical minerals from e-waste and used batteries. Additionally, in November 2025, the Union Cabinet had approved a Rs 7,280 crore scheme to promote manufacturing of rare earth permanent magnets in India. The scheme aims to develop a production capacity of 6,000 tonnes annually. Recycled minerals and rare earth oxides from Circology’s proposed refinery could prove useful for such domestic industrial supply chains.
Meerut-based Circology is a DPIIT approved deep tech startup, which works on circular economy i.e. recycling and reusing of resources. The company has received support from UP Startup Mission under the Startup Ecosystem of Uttar Pradesh. Under the MoU, the Yogi government will facilitate in obtaining necessary approvals and clearances. Besides, the project will also be supported in availing the benefits of incentive schemes of the Central and State Government as per the applicable rules. The proposed project of about Rs 200 crore has the potential to create new employment opportunities along with the expansion of emerging technological industries in the state. With this, Meerut’s identity can develop in traditional industrial activities as well as in new areas like critical mineral recycling and refining.