HomeEnergy Storage ›LOHUM Enters Strategic Partnership with Log9 to Address Challenges of Sustainable Battery Disposal

LOHUM Enters Strategic Partnership with Log9 to Address Challenges of Sustainable Battery Disposal

The partnership locks in weighted battery buyback prices for Log9, powered by LOHUM's DETX 'future purchase price' prediction index for battery assets.

October 06, 2023. By News Bureau

LOHUM and Log9 are pleased to announce a strategic partnership aimed at addressing the critical challenge of sustainable battery disposal in the electric vehicle (EV) industry. This collaboration aims to solve for the arbitrage of trust, transparency, and accountability of the residual value of the lithium-ion batteries and to accelerate the Net Zero materials transition efforts of Log9, maximizing the utility of their annual production of 250 MWh LTO EV batteries after they reach end-of-first-life, by repurposing them to make second-life solutions for renewable energy storage.

This collaboration is made possible through LOHUM's DETX™, a platform for battery asset trading that enables energy transition stakeholders to make optimal decisions based on accurate, transparent, and weighted future battery buyback and battery material prices. Providing unprecedented insights into battery material trade, DETX empowers Log9 to lower the emissions of their pioneering LTO batteries, while maximizing the profitability of all their batteries at any stage of life.

Log9 introduced chemistry based financing in EVs by attributing financial metrics peculiar to chemistry such as LTO and residual value of LTO battery packs is a key driver. Log9 has been able to complete the loop of circular economy of Lithium-ion batteries by enabling partners such as LOHUM to secure their supply well in advance.

"Our aspiration at Log9 is aligned with India's commitment to achieving Net Zero goals and contributing to a sustainable planet. Through Lohum's DETX platform, we play a vital role in this journey by responsibly recycling and repurposing EV batteries, ensuring a zero carbon footprint. This breakthrough in the EV sector allows us to accelerate urban mining of key materials that go into the making of Lithium Ion cells. With this partnership we are moving closer to our Net Zero goals and it fits our mission of Pioneering Responsible Energy. We eagerly anticipate this collaboration to significantly enhance our sustainability efforts," added Pankaj Sharma, Co-Founder & Director, Log9.
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