Lohum And Log9 Team Up For Lithium Battery Recycling In India
This collaboration aims to solve the arbitrage of trust, transparency, and accountability of the residual value of the lithium-ion batteries and to accelerate the Net Zero materials transition efforts of Log9
Lohum and Log9, a deeptech company announced a strategic partnership aimed at addressing the critical challenge of sustainable battery disposal in the electric vehicle (EV) industry.
This collaboration aims to solve the arbitrage of trust, transparency, and accountability of the residual value of the lithium-ion batteries and to accelerate the Net Zero materials transition efforts of Log9, maximising the utility of their annual production of 250 MWh LTO EV batteries after they reach end-of-first-life, by repurposing them to make second-life solutions for renewable energy storage.
This collaboration is made possible through Lohum Detx, a platform for battery asset trading that enables energy transition stakeholders to make optimal decisions based on accurate, transparent, and weighted future battery buyback and battery material prices.
Log9 introduced chemistry-based financing in EVs by attributing financial metrics peculiar to chemistry such as LTO and residual value of LTO battery packs is a key driver. Log9 has been able to complete the loop of the circular economy of Lithium-ion batteries by enabling partners such as LOHUM to secure their supply well in advance.
"Our aspiration at Log9 is aligned with India's commitment to achieving Net Zero goals and contributing to a sustainable planet. Through Lohum's DETX platform, we play a vital role in this journey by responsibly recycling and repurposing EV batteries, ensuring a zero carbon footprint. This breakthrough in the EV sector allows us to accelerate urban mining of key materials that go into the making of Lithium Ion cells. With this partnership, we are moving closer to our Net Zero goals and it fits our mission of Pioneering Responsible Energy. We eagerly anticipate this collaboration to significantly enhance our sustainability efforts." Pankaj Sharma, Co-founder and CEO, Log9.
"We are looking forward to maximizing the sustainability of Log9's revolutionary and safe LTO Li-ion battery technology, as the partnership aligns perfectly with LOHUM's focus on innovation in sustainable energy storage technologies. Log9’s mission of making EV batteries safe and hazard-proof aligns with our core capabilities of safely transporting, repurposing and recycling lithium-ion batteries. Together, we will contribute to making a safer eMobility sector for India, accelerating the adoption of sustainable and hazard-free solutions for EVs and stationary energy storage." Rajat Verma, Founder and CEO, LOHUM.