Lohum Cleantech In 5 Year Supply Deal With Glencore

Highlights :

  • Lohum to provide 10,000 MT of specialty chemicals to Glencore in the next 5 years
  • Multi-million-dollar association will lessen India’s reliance on other countries
Lohum Cleantech In 5 Year Supply Deal With Glencore

Lohum, one of India’s largest lithium-ion battery lifecycle management firm and Glencore, among the largest globally diversified metals and resources firms have announced a strategic partnership to advance circularity in the Li-ion battery supply chain. Under the alliance, Lohum will supply Glencore with 10,000 MT of specialty chemicals for the battery supply chain over the next five years, including cathodes, sulphates, carbonates, and oxides of various metals extracted from spent batteries and other sources. Lithium prices in the past year have been up over 200%, seriously straining efforts to speed up the EV transition, as batteries can account for a very high share of overall costs in these vehicles.

The global partnership will allow both companies to deepen their recycling expertise and support the advancement of a circular economy by supplying raw materials back into the battery supply chain. Firms, especially startups in India have emerged to build on the opportunity to provide lithium from recycling, both for domestic consumption and exports. With most lithium mining supplies monopolised by China, building a value chain based on intensive and efficient recycling has been an obvious opportunity to build on. Other firms like Attero, BatX and more have also announced significant plans to expand their recycling capabilities in the country.

Announcing this partnership, Rajat Verma, Founder & CEO of Lohum, said“At Lohum, we recognize that Lithium Carbonate extraction through recycling consumes significantly fewer resources than conventional mining.  Our partnership with Glencore underpins our global commitment to expanding the availability of existing battery resources through recycling. Our energy-efficient recycling technologies lend us a strong differentiation from most companies and showcase our unique efforts and capabilities in extracting specialty chemicals from spent Li-ion batteries. This major development will directly boost India’s battery industry and energy security, leading to large scale value creation in employment, domestic ecosystem growth, and import savings on LIB raw materials.

An expanding focus on Li-ion battery recycling is inevitable to meet the burgeoning raw material demand, especially in view of growing EV adoption. The multi-million-dollar association between Glencore and Lohum is in complete alignment with the government’s vision of scaling up the sector.

Jyothish George, Co-Head of Marketing Zinc and Copper (Metal), from Glencore commented: “We are excited to partner with a key player of India’s green economy. Our focus on a greener future is aligned and supports Glencore’s ambition to reach net-zero carbon emissions by 2050. Part of our approach is to seamlessly combine primary as well as recycled feed streams to provide the critical metals needed for the transition to a low carbon future. Our partnership with Lohum fully complements these goals.”

As part of its mission to expand its recycling footprint, Lohum will procure spent batteries and recycle them at its plant in the National Capital Region, India.

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