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BatX: Battling the Recycling Curve

Shreenidhi Raguraman, Ashutosh Yadav, Deepak Pandit

Product #:W37589
Supplier:Ivey
Discipline:Entrepreneurship, Sustainability
Setting:India, 2022
Details:Case (PDF) • 15 pages • 2025-05-05

Subjects:

Leadership and managing peopleEntrepreneurshipManagement

Industries:

Public administration and nonprofits

Geography:

IndiaAsia
Your Price:$10.54

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Utkarsh Singh and Vikrant Singh founded BatX Energies Pvt. Ltd. (BatX) in 2020 as a battery manufacturing company before pivoting to lithium-ion battery recycling. Despite initial struggles, they focused on exporting black mass, a critical material extracted from used batteries. As global demand for battery recycling grew, BatX faced regulatory challenges and shifting market dynamics. By 2023, the company had expanded its operations in India, prompting a strategic decision: double down on black mass production or invest in chemical recycling innovation. With investor pressure mounting, the co-founders had to assess their technological capabilities, intellectual property potential, and long-term market positioning. Their choice would determine BatX’s scalability and competitiveness in the evolving battery recycling industry.

Learning Objectives

The case presents a dilemma faced by many entrepreneurs. After the initial validation of an idea, the business needs to chart a growth path. The growth plan, in this case, is affected by government regulations, electric vehicle policies, and the push for electric mobility. The case offers insight from an entrepreneur’s point of view and will help students understand the problems faced by entrepreneurs, as well as the ever-changing markets and challenges. After working through the case and assignment questions, students will be able to do the following:

  • Evaluate BatX’s options.
  • Evaluate future scenarios involving BatX’s technology and business strategies.
  • Explore the different ways BatX can capture value from its innovations.
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Case Study: BatX: Battling the Recycling Curve (English version) | Ivey Publishing