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Groundbreaking Joint Venture between LOHUM & Log9 Targets EV Battery Disposal
LOHUM and Log9 have announced a new strategic alliance to tackle the pressing issue of ecological battery disposal in the electric vehicle (EV) sector. This joint venture seeks to bridge the gap regarding the trust, transparency, and accountability of the leftover worth of lithium-ion batteries whilst promoting Log9’s Zero Emissions objective.
The partnership aims to optimize the use of their annual yield of 250 MWh LTO EV batteries at the end of their first lifecycle, by reusing them as renewable energy storage solutions.
LOHUM's DETX has brought this venture to life, a trading platform for battery assets allowing energy transition participants to make well-informed decisions based on factual, candid, and balanced future battery buyback and raw material prices.
DETX provides Log9 unprecedented clarity into battery material trade and aids in its pursuit of reducing emissions from its groundbreaking LTO batteries, at the same time maximizing the profitability of all battery types at each lifecycle stage.
Log introduced an innovative concept in EVs of financing based on chemical metrics such as LTO and the remaining worth of LTO battery packs being a pivotal factor. With partners like LOHUM, Log9 has accomplished a complete roundabout economic cycle of Lithium-ion batteries by assuring a future supply.
Furthermore, Log9 emphasizes battery tokenization, guaranteeing that all batteries supplied for reuse are paired with a digital record of use data, equipping recyclers with precise SOH estimations for raw materials. - Vinay Iyer, VP - Finance, Log9.
The exponential growth of the Indian EV sector is hinting towards a soon-to-be battery waste crisis with the simultaneous increase in battery demand. To address this issue of energy transition, LOHUM and Log9 have combined efforts to create a stable and progressive model for the responsible disposal of Log9’s LTO batteries.
As a registered Extended Producer Responsibility (EPR) partner as per India’s Battery Waste Management Rules (BWMR 2022), LOHUM will facilitate Log9 in achieving its material recovery goals from the used LTO batteries. Log9 stands out as the single entity addressing R&D difficulties, promoting LTO battery technology that has the potential to revolutionize the safety aspect of EVs.
In addition to longer cycle life, quicker charging times, superior thermal stability, and enhanced safety, LTO batteries can effectively replace LFP or NMC batteries in almost all applications without the trademark drawbacks of regular batteries.
Log9's aspiration aligns with India's commitment towards achieving Zero Emission targets, and this collaboration with LOHUM's DETX platform is a significant step towards that. This platform aids us in assuming a pivotal role in sustainably recycling and reusing EV batteries, leaving zero carbon footprint. We are confident that this enterprise will greatly influence our sustainability drive." - PANKAJ SHARMA, CO-FOUNDER & DIRECTOR, LOG9
"We are eager to maximize the sustainability of Log9's groundbreaking and safe LTO Li-ion battery technology, as it perfectly aligns with our core principles of safety in the transport, reuse, and recycling of lithium-ion batteries. Together, we can aim for a safer eMobility sector in India, promoting the use of sustainable and hazard-free solutions for EVs and stationary energy storage." – Rajat Verma, Founder & CEO, LOHUM.
LOHUM and Log9 Materials are accelerating the EV landscape in India, thus laying a solid foundation for a pollution-free, safe, and energy-rich world powered by sustainable energy storage systems and low-carbon eMobility.
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