After establishing a strong presence in the US and UAE, battery recycler Lohum is now targeting Europe for its next phase of growth.
The region presents significant opportunities in battery recycling and repurposing, aligning with the company’s vision for sustainable operations.
Progress in Global Markets
Lohum has already set up integrated recycling facilities in the US and UAE through joint ventures.
“We are already sourcing material from the US, which shows the market there is still evolving,” said Rajat Verma, CEO of Lohum.
Verma added, “In Europe, we haven’t encountered a competitor of our size and scale. Meanwhile, the US market has two players comparable to us. These economies are still in the early stages of developing their recycling ecosystems”.
So far, Lohum has recycled 25,000 tons of material – equivalent to 500 million mobile phone batteries – preventing 1,44,000 tons of CO2e emissions.
Expertise in Critical Mineral Recycling
Lohum specializes in recycling critical minerals such as lithium, nickel, cobalt, aluminum, copper, platinum group metals (PGM), and rare earth elements (REE), achieving a remarkable 99.9% purity.
European Expansion Plans
To establish a foothold in Europe, Lohum is currently evaluating potential locations.
The company plans to replicate its successful model of delivering sustainable and cost-effective solutions for processing critical minerals.
“Additionally, with governments identifying 30 critical minerals, we aim to expand our footprint across as many of these as possible,” Verma explained.
Investment and Growth Trajectory
Lohum has raised over ₹600 crore to date and plans to invest another ₹1,000 crore to fund its expansion plans.
These funds are earmarked for setting up facilities, advancing R&D, and accelerating global growth through joint ventures.
Currently, the Greater Noida-based company operates profitably, generating a $100 million run rate. It aims to grow its revenues tenfold over the next three years.
As reported by thehindubusinessline.com, Lohum is poised to make a significant impact in Europe’s evolving battery recycling industry. The company is leveraging its expertise and strategic partnerships to drive this change.
