Lohum and Log9 Materials join hands for EV battery recycling in India
Battery manufacturing and battery recycling firm, Lohum has entered a strategic alliance with advanced electric vehicle technology company, Log9 Materials to address the challenge of sustainable battery disposal in the EV industry.
As per the partnership, the collaboration intends to maintain transparency and accountability of the residual value of the lithium-ion batteries. Further, it is aimed at helping Log9's net-zero materials transition efforts by maximizing the utility of their annual production of 250 MWh LTO (lithium-titanium-oxide) EV batteries. The end-of-life EV batteries will be repurposed into second-life solutions for renewable energy storage.
"Together, we will contribute to making a safer e-mobility sector for India, accelerating the adoption of sustainable and hazard-free solutions for EVs and stationary energy storage," commented Rajat Verma, Founder and CEO of Lohum.
The collaboration has been made possible through Lohum's DETX platform for battery asset trading that enables energy transition stakeholders to make decisions based on accurate, transparent, and weighted future battery buy-back and battery material prices.
"Through Lohum's DETX platform, the company will play a role in the journey by responsibly recycling and repurposing EV batteries, ensuring a zero-carbon footprint," said Pankaj Sharma, Co-Founder and Director of Log9 Materials.
"This breakthrough in the EV sector allows us to accelerate urban mining of key materials that go into the making of lithium-ion cells," he added.