The partnership locks in weighted battery buyback prices for Log9, powered by LOHUM’s DETX future purchase price prediction index for battery assets.
LOHUM and Log9 have signed a strategic partnership to address the critical challenge of sustainable battery disposal in the electric vehicle (EV) industry. This collaboration aims to solve 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, maximising 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 platform for battery assets. Log9 introduced chemistry-based financing in EVs by attributing financial metrics peculiar to chemistry, such as LTO and residual value of LTO battery packs, which are key drivers. Log9 has been able to complete the loop of the circular economy of Lithium-ion batteries by enabling partners such as LOHUM to secure their supply well in advance.
“This breakthrough in the EV sector allows us to accelerate urban mining of key materials that go into making Lithium Ion cells. With this partnership, we are moving closer to our Net Zero goals, which fit our Pioneering Responsible Energy mission. We eagerly anticipate this collaboration to enhance our sustainability efforts significantly, ” said Pankaj Sharma, Co-founder and director, LOG9.
“We look forward to maximising the sustainability of Log9’s revolutionary and safe LTO Li-ion battery technology, as the partnership aligns perfectly with LOHUM’s focus on innovation in sustainable energy storage technologies. Log9’s mission of making EV batteries safe and hazard-proof aligns with our core capabilities of safely transporting, repurposing and recycling lithium-ion batteries. Together, we will contribute to making a safer eMobility sector for India, accelerating the adoption of sustainable and hazard-free solutions for EVs and stationary energy storage,” added Rajat Verma, Founder & CEO, LOHUM.