E-battery recycler Lohum Aims to Increase Topline by Three Times This Fiscal

Greater Noida-based manufacturer and recycler of lithium-ion battery packs, Lohum has stated that strong demand is expected to fuel a three-fold increase in its topline this fiscal year to over Rs 300 crore. According to Lohum Cleantech, the lithium-ion battery business is predicted to grow 11-fold between 2020 and 2030, prompting the company to develop an aggressive expansion plan for the following five years. The business has seen some major announcements in recent weeks, notably by Attero, which has announced plans for a major recycling hub in Telangana.  

Lohum, one of the early movers in the lithium ion battery recycling space,  has projected that its income this financial year is projected to triple from the Rs 110 crore it earned in FY22.

Lohum claims that its share of the domestic Li-ion battery recycling market is as high as 60–70%. In September, the company formed a partnership with the diversified natural resources corporation Glencore, with headquarters in Switzerland, to deliver 10,000 tonnes of specialty chemicals over the following five years. Additionally, the business offers battery reuse services to its clients and partners in the US, EU, Middle East, East Asia, and South-East Asia.

In Greater Noida, it has three facilities: a 2-GWh “reclaim” recycling and extraction plant and two 300 MWh dismantling and repurposing units. Lohum is preparing to build its fourth facility in Greater Noida specifically to meet the increased demand with a goal to scale manufacturing capacity to 50,000 tonnes in the following 4-5 years.

The “Reclaim” factory can produce fresh, environmentally friendly lithium-ion battery material to power a significant number of electric vehicles while processing 10,000 metric tonnes of battery trash annually.