CHENNAI: The Greater Noida-based LOHUM, one of the largest producers of sustainable energy transition and battery raw materials through recycling, repurposing, and low carbon refining, will be investing more than Rs 2,000 crore to build the country’s largest battery recycler plant at the future mobility park at Shoolagiri in Krishnagiri district. The plant is expected to generate at least 1,000 jobs when it becomes fully functional.
Speaking to TNIE on the sidelines of Investopia Global in Chennai on Wednesday, LOHUM’s head of Corporate Development Sachin Maheshwari said the facility will be set up on 65 acres of land and the investment will be made over a period of six years.
“We are looking at a capacity of 20 gigawatt hour of cathode active materials (CAMs) production which is used for cell manufacturing for being used in batteries,” he said.
“We are now setting up the plant and the factory will be set up in the next 18 months. The company plans to supply locally but exports cannot be ruled out,” he said.
Sachin said the recycler will not only cater to used batteries but also to electrical and rare earth magnets. “We want to play a role in sustainable use of critical minerals such as cobalt, lithium, and platinum, among others,” he said.
“Recycling and reuse is our first goal and we want our operation to be net-zero in energy usage. We want to scale up our research on rare earth metals,” said Sachin.
Retired lithium-ion batteries’ influx likely
Though India is exploring the possibility of tapping critical minerals, including lithium and cobalt, by looking to acquire mines in Zimbabwe or Australia, it is not viable, said Sachin, adding that recycling must play a key role.
Sachin said that the company is also setting up a plant in the United Arab Emirates. The company already has eight plants -- seven in Greater Noida and one in Gujarat with a capacity of 150 MW hour.
India anticipates a substantial influx of retired lithium-ion batteries in the coming years. Projections estimate that by 2030, the country will have approximately 128 GW h of lithium-ion batteries available for recycling, with 46% originating from electric vehicles alone.