Lohum partners with Altigreen to recycle EV batteries
Under this partnership, Lohum will recycle end-of-life batteries from Altigreen electric vehicles. Lohum hopes to recover 95% of high-purity battery raw materials, which can be used to manufacture new batteries.
Integrated battery recycling and repurposing solutions provider Lohum has partnered with Altigreen to recycle EV batteries.
Under this partnership, will recycle end-of-life batteries from electric vehicles (EV) via its NEETM technology, recovering 95% of high-purity battery raw materials, which can be used to manufacture new batteries, said the UP-based recycler in a statement.
The company said the tie-up will enable it to recycle 1-GWh of Altigreen EV cargo vehicle batteries over the next three years. This will help in significant reduction of battery waste and efficient utilisation of resources, said Lohum in the statement.
"Through our battery recycling expertise, we aim to support Altigreen in their commitment to circular economy practices and contribute to the overall growth of the EV industry," said Rajat Verma, Founder and CEO of Lohum.
With the rapid growth of the EV market, the demand for batteries has surged, resulting in a significant increase in battery waste, the company said.
"This partnership will enable us to responsibly manage the end-of-life batteries from our electric vehicles, reducing waste and minimising the environmental impact of our operations," said Amitabh Saran, Founder and CEO of Bengaluru-based Altigreen.
Edited by Swetha Kannan