Hyderabad, November 03, 2025: Black Gold Recycling, a Hyderabad-based circular economy startup, has acquired a majority stake in Reteck Envirotech Pvt. Ltd., the Indian subsidiary of Hong Kong and US–based Li Tong Group (LTG), a global leader in reverse supply chain management and electronics lifecycle solutions.
The acquisition marks a strategic step in Black Gold’s mission to build a technology-driven and scalable circular economy platform in India. By integrating Reteck’s operational expertise with Black Gold’s innovation-led recovery models, the company aims to expand its sustainable recycling capabilities across lithium-ion batteries, plastics, solar panels, and end-of-life electronics.
As part of the deal, Mr. Pankaj Tirmanwar, CEO of Reteck Envirotech Pvt. Ltd., will join Black Gold Recycling as Co-founder and Board Member, contributing to the company’s efforts to strengthen its nationwide footprint.
Speaking on the acquisition, Prabhu Ram, Founder & CEO of Black Gold Recycling, said: “Our mission is to make sustainability scalable — by design, not by chance. This acquisition brings together Reteck’s global operational expertise and our technology-led recovery platform to create a stronger, more responsible ecosystem for e-waste management in India.”
“The business of Black Gold is deeply aligned with the Critical Mineral Mission Plan of the Government of India, as we focus on recovering strategic materials from e-waste, batteries, and solar panels — ensuring that what leaves our hands re-enters the economy responsibly. We’re investing in advanced processes for lithium-ion battery, plastic, and solar panel recycling, turning India’s waste streams into sources of value, innovation, and circular growth.”
Linda Li, Chief Strategy Officer, Li Tong Group, commented: “Reteck India has been an integral part of Li Tong Group’s global network. We’re pleased to transition our Indian business to Black Gold Recycling, whose local expertise, leadership, and sustainability focus align perfectly with our global vision. We look forward to continued collaboration as Black Gold scales Reteck India to new levels of innovation and compliance.”
The acquisition provides Black Gold with access to advanced infrastructure in IT asset disposition (ITAD), component recovery, battery recycling, and end-of-life electronics recycling, enabling OEMs, enterprises, and retailers to manage take-back and recovery processes with complete traceability, compliance, and sustainability.
Backed by a USD 10 million seed funding from Citrus Global Arbitrage Fund, Black Gold Recycling is rapidly scaling its operations to support India’s Critical Mineral Mission Plan and national goals for resource efficiency and circular growth.
With this acquisition, Black Gold aims to position itself as a key player in India’s sustainable reverse supply chain, driving responsible material recovery and supporting the country’s transition toward a low-carbon, resource-secure future.
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