Rajat Verma, Founder & CEO of Lohum , commented on the development: "As Lohum expands its presence in North America, we welcome this opportunity to partner with ReElement and American Metals, companies that share Lohum 's goals of 'making battery materials last forever'. We believe the joint venture will be instrumental in building resilient critical material supply chains in the U.S. that can sustain themselves through circularity. This is an inspiring development in US-India technology collaboration through market entities."
What this facility will incorporate?
The new facility will focus on the entire value chain, from battery cell testing and segregation for second-life energy storage applications to recycling, mineral refining, engineered materials, and battery-grade products. With a target purity level greater than 99.5%, the critical materials produced will support the US domestic battery ecosystem. Initially, the facility aims to supply over 315,000 electric vehicles annually, with further growth dependent on feedstock availability.
The initial location for the facility will be the Marion Advanced Technology Center in Indiana, with plans to expand to other locations as determined by the parties involved. This joint venture aims to create a domestic ecosystem of recycled, high-purity lithium, contributing to North America's lithium-based battery manufacturing supply chain. The venture will leverage the combined capabilities of Lohum and ReElement to reduce capital expenditure, physical footprint, environmental impact, and operational costs associated with the separation and purification of battery materials.
More employment opportunities
The joint venture will not only assist in addressing the increasing demand for sustainable battery materials in North America but also contribute significantly to the green job market with the creation of 250 jobs. By establishing this integrated facility, Lohum , ReElement, and American Metals aim to foster a sustainable and circular economy for battery materials, reducing dependency on new mining activities and enhancing the sustainability of the battery supply chain.
Mark Jensen, Chairman of American Metals and ReElement Technologies, expressed enthusiasm for the partnership: "We have been working with Lohum to figure out how to leverage our unique capabilities and world-leading technologies at ReElement along with the innovative and scaled-up approach to critical mineral’s recycling and refining that Lohum has established. We are pleased that ReElement and Lohum are partnering in a joint venture to leverage both ReElement’s and Lohum ’s vast experience in recycling lithium-ion batteries."
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