Project Sponsors are co-founders Nitin Gupta (CEO) and Rohan Gupta (COO). Major shareholders are venture capital funds IndoUS Venture Capital, Draper Fisher Jurvetson, and Granite Hill India Opportunities Fund.

IFC is considering an investment of up to US$5 million.

5.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	0.0
Equity	5.0

* These investment figures are indicative

The Company’s registered office is in Dehradun (State of Uttarakhand). Its recycling plant is in Roorkee (State of Uttarakhand). The Company also has offices in Noida, Mumbai, Bangalore and Chennai.

This project has the potential to generate a powerful demonstration effect that could result in additional capital flowing into the domestic formal e-waste sector. This will support growth of a small and evolving, but critical market. The community at large will also benefit as the growth of Attero will result in a greater portion of e-waste being recycled in an environmentally sound manner, avoiding the dumping of hazardous substances that have negative health impacts. The project also supports climate change because re-cycling metals from state-of-the-art e-waste technology consumes less energy and generates less hazardous emissions than mining them. The project will allow the Company to grow, generating employment in an environmentally and socially conscious sector that would not have otherwise been created.

IFC's expected additionality include guidance on Environmental and Social (E&S) issues that can help the Company reach global standards and help it grow in a socially inclusive manner, and signaling effect, showing that the e-waste recycling business can be economically, environmentally and socially sustainable.

This is a Category B project because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria, and it is possible to readily design and implement engineering and management measures to mitigate adverse impacts from the facility operations. Key aspects of relevance to the Project include: management of emissions to air, soil and water; management of occupational health and safety including work place environment quality; ensuring fair labor working conditions including for contractors, security service providers, e-waste aggregators and logistics service providers; and management of impacts on community health, safety and security. The Company has in place an Environment, Occupational Health and Safety Management System (“EHSMS”) certified to ISO 14001 and OHSAS 18001 standards, which are consistent with Indian regulatory Environment, Occupational Health and Safety (“EHS”) requirements. The Company will upgrade this EHSMS and implement appropriate additional measures to ensure that Attero’s social and environmental management system (SEMS) is consistent with IFC Performance Standards and good international industry practice.

Details on the potential E&S impacts, corresponding mitigation measures, and guidance on how and where information about the project can be obtained are provided in the IFC Environment and Social Review Summary and the Environment and Social Action Plan.