First ever futures contract written in the Indian Lithium Battery Space between LOHUM & Log9

New Delhi; October 04, 2023: LOHUM, India’s largest producer of sustainable energy transition materials via Battery recycling, repurposing, and refining. Log9, A leading Indian Deep Tech company that specializes in Advanced EV battery technology and the only manufacturer of Lithium-ion cells in India 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 a 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.

Furthermore, Log9 has been endorsing its practices of tokenization of batteries and ensuring that all the batteries being supplied for second life usage are backed by a digitized ledger of usage data thereby enabling the recyclers with accurate predictability of SOH for all their input materials – Vinay Iyer, VP – Finance, Log9

The Indian EV industry’s rapid growth is driving up battery demand just as swiftly, which also indicates an incoming battery waste crisis. At the forefront of this energy transition challenge, LOHUM and Log9 have joined forces to establish a stable and innovative framework for the responsible disposal of Log9’s LTO batteries, which are long-life batteries capable of more than 15,000 cycles in EV use case. LOHUM as an Extended Producer Responsibility (EPR) partner registered under India’s Battery Waste Management Rules (BWMR 2022) will enable Log9 to seamlessly meet its material recovery targets when its LTO batteries reach the end of their life in their first application.

Log9 is the only company taking up R&D challenges to advance LTO battery technology, pioneering a battery chemistry that has the potential to make EVs drastically safer. Some differentiating advantages of LTO batteries include longer cycle life, faster charge times, higher thermal stability and overall safety. The LTO batteries are capable of serving almost all of the same applications as LFP or NMC batteries, without drawbacks of conventional batteries.

“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.” – PANKAJ SHARMA, CO-FOUNDER & DIRECTOR, LOG9

“We are looking forward to maximizing 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.” – Rajat Verma, Founder & CEO, LOHUM.

LOHUM & Log9 Materials are accelerating the EV landscape in India and setting the groundwork for a clean, safe, and energy-abundant world powered by sustainable energy storage systems and low-carbon eMobility.