Is Lohum Cleantech a good EV battery company?

By Arbind Gupta. Assistant Editor, Business India Baring Private Equity Partners-backed Lohum Cleantech Pvt Ltd is betting big on the rapidly-growing EV battery market. The Noida-headquartered company, founded in 2018, is today commanding 70 per cent share in the lithium-ion battery recycling space through its patented technologies.

Who is Lohum cleantech?

Lohum Cleantech, a producer of clean energy transition materials through battery recycling and repurposing, has raised Rs 119 crore (approximately $14.5 million) as a part of its ongoing Series B round.

Why did Lohum partner with Glencore?

Among many partnerships, in September 2022, Lohum partnered with Glencore, a Swiss multinational commodity trading and mining company, to advance circularity in the li-ion battery supply chain. Lohum supplies Glencore with 10,000 tonnes of speciality chemicals for the battery supply materials of worth $200 million as part of the partnership.

Why should you invest in Lohum?

This significant development positions LOHUM as a pioneer in the circular economy for critical minerals in India. Notably, the company boasts the world’s only end-to-end in-house ecosystem for battery lifecycle management, encompassing recycling, repurposing, material refining, and cathode active material (CAM) production.

What makes Lohum unique?

Backed by 600 people and a strong R&D facility, led by over 50 engineers and technical staff, Lohum is the only integrated high-yield reuse and recycling player globally.

How much did Lohum raise in Series B?

It has already raised $23 million as part of the series B, which kicked in August last year. As per media reports, it was in talks to raise $100 million in Series B. Lohum claims to be one of the largest producers of sustainable energy transition materials through integrated battery recycling & raw material refining and battery repurposing.