Lohum, a lithium-ion battery lifecycle management firm and Glencore, a natural resource company, announced strategic partnership to advance circularity in the Li-ion battery supply chain. Under the alliance, Lohum will supply Glencore with 10,000 MT of specialty chemicals for the battery supply chain over the next five years.
The list of supplies include cathodes, sulphates, carbonates, and oxides of various metals extracted from spent batteries and other sources.
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.
Rajat Verma, Founder & CEO of Lohum, said, “Our partnership with Glencore underpins our global commitment to expanding the availability of existing battery resources through recycling.”
An expanding focus on Li-ion battery recycling is inevitable to meet the burgeoning raw material demand, especially in view of 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.
By reimagining how the lithium ion industry would be indigenous in India, Lohum seeks to establish an ecosystem. This partnership aims to lessen India’s reliance on other countries, which will eventually result in lower battery prices.
Jyothish George, Co-Head of Marketing Zinc and Copper (Metal), from Glencore commented: “We are excited to partner with a key player of India’s green economy. Our focus on a greener future is aligned and supports Glencore’s ambition to reach net-zero carbon emissions by 2050.”