Hinckley E-Waste Recycling Ltd, a trailblazer in Nigeria’s circular economy, has secured fresh backing from Goodwell Investments and Alitheia Capital to expand its operations. The funding, channeled through the uMunthu II impact fund, will finance the development of Nigeria’s first dedicated lithium-ion and lead-acid battery recycling plants in Ogun State. Set to process up to 30,000 tonnes of e-waste annually, the new facilities will also support Hinckley’s growing export operations, positioning the company as a regional leader in sustainable recycling.
This investment also marks Goodwell’s first venture into the waste management space, signaling rising investor confidence in Africa’s green infrastructure potential. As the volume of discarded electronics and batteries increases, Hinckley is stepping up to offer both environmental and economic solutions to a critical challenge.
Addressing a Critical Environmental Challenge
The global e-waste crisis is worsening, with just over 22% of collected electronic waste recycled worldwide. In sub-Saharan Africa, that figure drops significantly—estimated at only 1% to 15%. Nigeria alone produces over 500,000 tonnes of e-waste annually, making it the largest generator in West Africa and third largest on the continent.
Lacking formal systems for collection and disposal, much of this waste is handled by informal workers under hazardous conditions. Simultaneously, industries face shortages of recyclable materials essential for electronics and battery manufacturing. Hinckley aims to bridge this gap by combining environmental protection with social impact.
A Model for Sustainable Innovation
By partnering with a network of local collectors, Hinckley ensures a steady supply of raw material while offering income opportunities to underserved communities. It has earned accolades from the Lagos State Environmental Protection Agency (LASEPA) and the Waste Management Society of Nigeria (WAMASON) as Nigeria’s Best E-Waste Recycling Company for 2024.
The company’s client list includes major brands such as Samsung, HP, Lumos, and PZ Cuzzons. Its involvement in international sustainability programs like Ze-Gen and PURE, supported by UK Aid, the IKEA Foundation, and Carbon Trust, underlines its commitment to replacing fossil-fuel generators with second-life battery systems.
Building Infrastructure for Impact
According to Hinckley CEO Adrian Clews, the goal is not just to recycle more waste, but to formalize and professionalize e-waste collection in Nigeria. He estimates that over 100,000 Nigerians work informally in e-waste collection, often in unsafe environments. With modern recycling facilities and international-standard practices, Hinckley aims to turn this sector into a safer, regulated industry that creates better livelihoods and protects the environment.
Strategic Support with Broader Goals
For Alitheia Capital, Hinckley represents a powerful convergence of environmental need and economic opportunity. “The rise in electric vehicles and clean energy is creating enormous demand for battery materials,” said Doubra Eghaghe, noting that recycling these materials is key to meeting future supply demands sustainably.
With this investment, Hinckley is poised to become a leader in Africa’s circular economy—proving that innovation, inclusion, and environmental care can go hand-in-hand.
