Lithium-ion battery pack maker and recycler Lohum Cleantech Pvt. Ltd. on Thursday said it has inked an initial pact with US-based ReElement Technologies and American Metals to jointly set up a lithium-ion battery materials processing facility in the US at an investment of $30 million.
The 15.5-GWh fully integrated battery recycling, repurposing, and critical material production plant is expected to initially cater to over 3,15,000 electric vehicles annually with continued growth based on feedstock availability, besides creating 250 green jobs, Lohum Cleantech said.
The facility will produce critical materials for the US domestic battery ecosystem, a the company said.
"As Lohum expands its presence in North America, we welcome this opportunity to partner with ReElement and American Metals. We believe the JV will be instrumental in building resilient critical material supply chains in the US," Lohum Founder and Chief Executive Officer Rajat Verma said.
The plant will be initially operated from the Marion Advanced Technology Center in Indiana, Lohum said, adding that it will expand to other locations later.
The joint venture will create a domestic ecosystem of recycled, high-purity lithium for developing North America's lithium-based battery manufacturing supply chain, the company said.
"We have been working with Lohum to figure out how to leverage our capabilities and technologies at ReElement along with the innovative and scaled up approach to critical mineral's recycling and refining. We are happy that ReElement and Lohum are partnering in a joint venture to leverage each other's vast experience in recycling lithium-ion batteries," said Mark Jensen, chairman of American Metals and ReElement Technologies.
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