LOHUM Cleantech, a player in lithium-ion battery recycling and repurposing, is doubling down on its integrated strategy as it targets rapid growth and global expansion. Positioned uniquely in India’s green-tech space, LOHUM is the only company in India simultaneously recycling and repurposing used electric vehicle (EV) lithium-ion batteries.
Driving Sustainable Growth with Proven Profitability
Since its inception just five years ago, LOHUM has consistently operated profitably. In FY2023 alone, the company posted impressive revenues of ₹300 crore and is now aiming for a 2.5X revenue increase in FY2024. CEO Rajat Verma attributes this performance to the company’s sharp focus on sustainability, innovation, and operational efficiency.
Strategic Partnerships Fuel Global Footprint
LOHUM has built a strong network of global collaborations. Its partners include mining and commodity giant Glencore for specialty chemicals supply, Mercedes-Benz Energy in Asia for second-life battery modules, and IIT-Kanpur for advanced sustainability research. These partnerships reinforce LOHUM’s position as a serious player in the global energy storage ecosystem. With customers spread across the U.S., European Union, Middle East, East Asia, and Southeast Asia, LOHUM is steadily extending its global influence.
Expanding Capacity to Meet Surging Demand
The company has already invested over ₹200 crore in infrastructure, achieving a 1 GW recycling capacity and repurposing 300 MW of EV batteries to date. The lifecycle of EV batteries typically spans 5 to 8 years or over 100,000 km. LOHUM sees vast potential in extracting extended value from these assets.
According to Verma, repurposed batteries serve three key purposes:
*Grid support in power-deficient areas
*Stationary storage to reduce electricity theft
*Energy storage for renewable energy applications
Becoming a Global Alternative to China
With the world eyeing alternatives to China for battery material sourcing and manufacturing, India stands at a strategic inflection point. Verma emphasizes that India—driven by intense R&D in energy efficiency and emerging battery chemistries—can become a global hub for battery repurposing and recycling. Despite relying on imports for critical battery minerals, India is pushing for local cell manufacturing. Companies like LOHUM, innovating in circular battery technologies, strengthen India’s global proposition.
$100 Million Investment
Looking ahead, LOHUM plans to invest over $100 million (₹824 crore) in the next three years to scale up operations across India, the United States, and Europe. The goal is ambitious: increase processing capacity by 10 times and boost revenue by 2.5X. The massive investment will be channelled into infrastructure, technology enhancement, and geographic expansion. This will help serve both domestic and international markets more efficiently.
R&D-Led Innovation at the Core
With a team of 500 plus professionals, LOHUM dedicates nearly 10% of its revenue to R&D. Employees focus exclusively on advancing battery technologies and developing new applications for second-life batteries.
“Our investment in R&D is crucial to pushing the boundaries of battery technology and sustainability,” said Verma. “We are building a future-ready business by staying ahead in innovation and global capability,” he added.
Powering the Circular Battery Economy
LOHUM Cleantech takes an integrated approach to recycling and repurposing. This not only addresses a major sustainability challenge but also positions the company as a key player in the emerging global circular battery economy. The company press release stated that the EV revolution is accelerating, and energy storage is becoming more critical. LOHUM’s forward-looking investments and technology-led strategy aim to shape the future of clean energy in India and beyond.
