LOHUM's ₹2,000 Crore Green Push: New Plant in Tamil Nadu

Greater Noida-based LOHUM is set to invest ₹2,000 crore over six years in a new Krishnagiri plant, western Tamil Nadu. This facility, spread over 65 acres, will produce Cathode Active Material (CAM) for batteries and is expected to start production within 18 months. Initially, ₹400 crore will be invested over two years, as announced by Sachin Maheshwari, Head of Corporate Development, at the CII-UAE Investopia event.

The new plant will have a capacity of 20 GWh and will supply major battery manufacturers like Ola, Exide, TVS, and Amara Raja. With facilities already in Noida, Gujarat, Krishnagiri, and the UAE, LOHUM aims to recycle 20,000 tonnes of batteries annually at the new plant, producing cobalt, nickel, and lithium. Production will initially range from 5 to 10 GWh of CAM, eventually scaling to 20 GWh.

Supported by the Tamil Nadu government through a Production Linked Incentive and a capital expenditure subsidy, LOHUM is well-funded and profitable, planning to use equity for building the facility. Maheshwari emphasized their transition from a start-up to a sizable, profitable enterprise without disclosing financial details, hinting at the possibility of an IPO.

Founded six years ago, LOHUM boasts an in-house ecosystem for battery recycling, repurposing, and CAM production. In March, it raised $54 million (₹450 crore) in Series B funding from various investors to expand its market presence and scale operations globally. LOHUM's green solutions help reduce battery costs, dependency on mining, and enhance energy security.

News by Rahul Yelligetti