The partnership locks in weighted battery buyback prices for Log9, powered by LOHUM's DETX 'future purchase price' prediction index for battery assets.
04 Oct 2023 | 8117 Views | By Autocar Professional Bureau
LOHUM and Log9 have announced a strategic partnership aimed at addressing the challenge of sustainable battery disposal in the electric vehicle (EV) industry The partnership seeks to address the residual worth of lithium-ion batteries and expedite Log9's Net Zero materials transition endeavors.
The primary focus is to optimise the ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
LOHUM and Log9 have announced a strategic partnership aimed at addressing the challenge of sustainable battery disposal in the electric vehicle (EV) industry The partnership seeks to address the residual worth of lithium-ion batteries and expedite Log9's Net Zero materials transition endeavors.
The primary focus is to optimise the utilisation of Log9's yearly production of 250 MWh LTO EV batteries after they reach end-of-first-life. This will be achieved through the repurposing of these batteries to formulate second-life solutions dedicated to renewable energy storage, as communicated by the company.
This collaboration is made possible through LOHUM's 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.
"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,” said Pankaj Sharma, co-founder and director, Log9.
Rajat Verma, Founder and CEO, LOHUM further added, "We are looking forward to maximising 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," he signed off.