Integrated battery recycling and repurposing solutions provider Lohum on Wednesday announced a strategic partnership with Altigreen in the battery disposal space.
Under this partnership, Lohum will recycle end-of-life batteries from Altigreen electric vehicles via its NEETM technology, recovering 95 per cent of high-purity battery raw materials that can be used to manufacture new batteries, the UP-based recycler said in a statement.
The company said the tie-up will enable it to recycle 1-GWh of Altigreen EV cargo vehicle batteries over the next three years.
This will help in significant reduction in battery waste and the efficient utilization of resources, as per the statement.
"Through our battery recycling expertise, we aim to support Altigreen in their commitment to circular economy practices and contribute to the overall growth of the EV industry," said Rajat Verma, Founder and CEO of Lohum.
With the rapid growth of the EV market, the demand for batteries has surged, resulting in a significant increase in battery waste, the company said.
"This partnership will enable us to responsibly manage the end-of-life batteries from our electric vehicles, reducing waste and minimizing the environmental impact of our operations," said Amitabh Saran, Founder and CEO of Altigreen.