LOHUM has announced that it will set up India's single largest, single-location Li-ion battery manufacturing and recycling factory in Greater Noida, Uttar Pradesh within the next 18 months. The total installed capacity of this integrated facility will be 3 GWh/ 3000 MWh Li-ion batteries per annum.
The integrated factory will integrate the battery manufacturing capacity of 1 GWh/ 1,000 MWh and 2GWh/ 2,000 MWh of recycling per annum.
LOHUM plans to undertake investments to the tune of Rs. 300 crores to set up this integrated factory.
At present LOHUM operates two co-located factories of 300 MWh for manufacturing fresh Li-ion batteries and 200 MWh for recycling the batteries.
To further increase their refining efficiency, LOHUM is also setting up a smaller recycling unit in Kandla, Gujarat.
According to Rajat Verma, Co-founder of LOHUM, the funding process is in progress, and in the next 3-4 months, they will be able to accomplish their target investment, from both present and new investors.
"At this stage, our immediate goal is to expand our manufacturing as well as recycling capacity, and we do have a very significant bowl. As India moves towards creating gigawatt-hour factories, the first and most important requirement will be feedstock. And that is where a company like LOHUM steps in. It is because we have the expertise in recycling and reusing, that we can provide full-stack solutions to any automotive company out in the market," Verma said. He further added, "We have identified land parcels for this, but at the same time, we will be setting up a smaller unit in the Kandla area for recycling perspective".
LOHUM is the only integrated lithium-ion battery solution provider, in India and globally. It operates in three verticals, one caters to the mobility segment, that is the two-wheeler and three-wheeler market; they have a stationary storage vertical, providing solutions to the UPS market, to the micro and mini-grid markets, and the telecom sector. The third vertical is of chemicals business where LOHUM provides different kinds of extracted chemicals to intermediaries in the recycling process as well as final product manufacturers in the global ecosystem.
It is this integrated approach that permits LOHUM to provision a platform to the market through which they can meet both geostrategic and sustainability goals, but also more significantly, have access to raw material and hence a lot of strategic goals as well for the organization.
Early this year, LOHUM had raised $7 million in a new round of funding led by Baring Private Equity Partners (BPEP).