Lohum
| Private | |
| ISIN | 🆔 |
| Founded 📆 | 2018 |
| Founders 👔 | Rajat Verma |
| Headquarters 🏙️ | , , India |
Area served 🗺️ | India, USA, Europe, Middle-East, East Asia, and South-East Asia |
| Products 📟 | Lithium-ion batteries |
| Members | |
Number of employees | |
| 🌐 Website | https://lohum.com |
| 📇 Address | |
| 📞 telephone | |
Lohum is an Indian battery developer and manufacturer, specialising in lithium-ion technology for electric vehicles. The company headquartered in Noida, Uttar Pradesh.[1][2][3]
The company provides services across US, EU, Middle-East, East Asia, and South-East Asia.[4]
History[edit]
Lohum Cleantech was founded in 2018 by Rajat Verma, Justin Lemmon, and Gazanfar Safvi.[1][5][6][7]
Structure, partnerships and ownership[edit]
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 metric tonnes of speciality chemicals for the battery supply materials of worth $200 million as part of the partnership.[8][9]
Lohum is Mercedes-Benz Energy's first Asian partner for lithium-ion battery recycling and repurposing schedule of 50MWh per annum.[10][11]
In May 2023, IIT Kanpur partnered with Lohum Cleantech for R&D collaboration in sustainability and other core areas. Professor Kanwar Singh Nalwa of IIT Kanpur's Department of Sustainable Energy Engineering will lead the team that will collaborate with Lohum on projects aimed at enhancing Lithium-ion battery testing technologies and approaches for evaluating battery raw material quality. The collaboration's efforts will aid in the development of technologies critical to the safety and longevity of batteries. Lohum will also assist IITK in commercialising its research findings in other areas. In addition Lohum provides fellowships to IIT Kanpur Ph.D. students to help them with their research. It has also supported the IITK Motorsports team, who won the Formula Bharat 2023 Class I electric category.[12][13]
In June 2023, MG Motor India collaborated with Lohum for second-life EV battery solutions (5kWh Battery Energy Storage System (BESS)).[14] Lohum is also partnered with Acko General Insurance to recycle and reuse EV batteries under warranty insurance.[15]
In July 2023, Lohum partnered with Altigreen to recycle EV batteries.[16]
Investors[edit]
Investors in Lohum' $100M Series B include VenturEast, Stride Ventures, Talbros Automotive, Michael B. Schwab, Binny Bansal, Duros Capital & Cactus VP and Baring Private Equity.[17][18][19]
Locations[edit]
The headquarters of Lohum is in Noida, India and it has other corporate offices in United States.[20][21]
Awards & accolades[edit]
- BW Recycle Awards 2023[22]
- Most Innovative Company of the Year 2022 by The Confederation of Indian Industry.[23]
- Startup Champion 2.0:Rajat Verma, Co-Founder and CEO of LOHUM[24]
References[edit]
- ↑ 1.0 1.1 "This Entrepreneur Wants India To Make Its Own Lithium-ion Cells For Electric Vehicle Batteries". Forbes India.
- ↑ "India can become a global lithium supply chain leader without even producing it: Lohum". The Times of India. 10 March 2023.
- ↑ Reed, John (25 January 2023). "India's electric vehicle market glides into gear from standing start". Financial Times.
- ↑ "Battery pack maker Lohum targets 3-fold jump in topline to Rs 300 cr - ET EnergyWorld". ETEnergyworld.com.
- ↑ Kumar, Nitesh. "Sourcing Raw Is The One Of The Biggest Challenge In Li ion Battery Space Founder Lohum". BW Disrupt.
- ↑ ""There is no scheme for ore-refining, converting them into cathode materials" Rajat Verma, CEO & Founder, Lohum - Saur Energy International". Saurenergy.com.
- ↑ "Budget 2023: Enhancing economies of scale a key requirement for EV sector". Financialexpress. 31 January 2023.
- ↑ "Lohum to supply specialty chemicals to Glencore for Lithium-ion batteries". The Times of India. 29 September 2022.
- ↑ "Glencore partners Lohum to boost circular ecosystem for Li-ion batteries". Financialexpress. 28 September 2022.
- ↑ "Lohum CEO Rajat Verma targets facility in USA for upstream capacities after 4th plant in Greater Noida". Financialexpress. 4 January 2023.
- ↑ "Lohum to offtake minimum 50MWh of second-use Li-ion battery modules annually from Mercedes-Benz Energy - ET EnergyWorld". ETEnergyworld.com.
- ↑ "Institute and Lohum Tie-up for research collaborations". www.iitk.ac.in. IIT Kanpur.
- ↑ "IIT-K inks pact on clean, green energy mgmt". The Times of India. 5 May 2023.
- ↑ "Lohum partners MG Motor India for second-life EV battery solutions". Business Standard.
- ↑ Anand, Saurav (2 May 2023). "Lohum and ACKO pioneer EV battery recycling and reuse in insurance". mint.
- ↑ "Lohum partners with Altigreen to recycle EV batteries". The Times of India. 12 July 2023.
- ↑ Dilipkumar, Bhavya (4 May 2022). "Stride Ventures expects final close of second fund in next two months". The Economic Times.
- ↑ "Lohum raises USD 7 mn in funding led by Baring Private Equity". Devdiscourse.
- ↑ "Lohum Cleantech and the art of recycling". businessindia.co.
- ↑ Baruah, Rituraj (23 December 2022). "Lithium-ion battery recycler Lohum plans to expand international presence". www.livemint.com.
- ↑ "Li-ion battery pack maker Lohum targets 3-fold jump in topline to Rs 300 cr". Business Standard.
- ↑ Shrivastav, Urvi. "BW Businessworld Recycle Awards Has A Stellar Beginning". BW Businessworld.
- ↑ "CII Awards - Home". innovationawards.ciiinnovation.in.
- ↑ "Startup Champion 2.0:Rajat Verma, Co-Founder and CEO of LOHUM shares how they recycle waste battery". Youtube. DD News.
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