Lohum to supply 10,000 metric tonne speciality chemicals to Glencore

Mumbai: Lithium-ion battery lifecycle management firm Lohum on Wednesday said it will supply 10,000 metric tonne of speciality chemicals to diversified natural resources firm Glencore under a strategic tie-up.

The multi-billion dollar deal with global commodity firm Glencore is for five years, Loham said.

The company, however, did not disclose the deal size in absolute numbers.   The global partnership will allow both companies to deepen their recycling expertise and support the advancement of a circular economy by supplying raw materials back into the battery supply chain, it noted.

This includes cathodes, sulphates, carbonates, and oxides of various metals extracted from used batteries and other sources.

"Our partnership with Glencore underpins our global commitment to expanding the availability of existing battery resources through recycling. This major development will directly boost India's battery industry and energy security," said Rajat Verma, founder-CEO of Lohum.

According to the company, an expanding focus on Li-ion battery recycling is inevitable to meet the burgeoning raw material demand amid the growing EV adoption.

The multi-million-dollar association between Glencore and Lohum is in complete alignment with the government's vision of scaling up the sector, it added.

Besides, this partnership will lessen India's reliance on other countries, which will eventually result in lower battery prices, allowing the country to quickly transition to sustainable energy storage, the company said.

"Our focus on a greener future is aligned and supports Glencore's ambition to reach net-zero carbon emissions by 2050. Part of our approach is to seamlessly combine primary as well as recycled feed streams to provide the critical metals needed for the transition to a low carbon future," said Jyothish George from Glencore.

Lohum also said that as part of its initiatives to expand its recycling footprint, it will procure spent batteries and recycle them at its plant in the National Capital Region.