Lohum has announced its partnership with Log9 to address the critical challenge of sustainable battery disposal in the electric vehicle (EV) industry.
A press release from Lohum said that the collaboration is made possible through its DETX, a platform for battery asset trading that enables energy transition stakeholders to make decisions based on accurate, transparent, and weighted future battery buyback and battery material prices.
The collaboration will ensure 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.
Pankaj Sharma, Co-Founder and Director, LOG9, said that 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.
“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.
Rajat Verma, Founder and CEO, Lohum, said, '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.'
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