About Lohum cleantech Guinea-Bissau
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4 FAQs about [Lohum cleantech Guinea-Bissau]
Who is Lohum cleantech?
Lohum Cleantech, a producer of clean energy transition materials through battery recycling and repurposing, has raised Rs 119 crore (approximately $14.5 million) as a part of its ongoing Series B round.
Is Lohum Cleantech a good EV battery company?
By Arbind Gupta. Assistant Editor, Business India Baring Private Equity Partners-backed Lohum Cleantech Pvt Ltd is betting big on the rapidly-growing EV battery market. The Noida-headquartered company, founded in 2018, is today commanding 70 per cent share in the lithium-ion battery recycling space through its patented technologies.
Why is Lohum a pioneer in the circular economy?
The company aims to scale up its recycling operations across India while venturing into new markets in North America, the European Union, the Middle East, Africa, and Asia. This significant development positions LOHUM as a pioneer in the circular economy for critical minerals in India.
Does Lohum repurpose EV batteries to make second-life energy storage systems?
It repurposes EV batteries to make second-life energy storage systems (ESS) for renewable energy storage and grid stabilization. Lohum has shown an impressive financial performance with its revenue surging 2.9X to Rs 308 crore in FY23 from Rs 106 crore in FY23. The company also posted a profit of Rs 8.88 crore in the same period.
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