Lohum plans new investment for capacity increase

Noida-based Lohum Cleantech has announced plans to expand its manufacturing and recycling capacity for lithium ion batteries. While production shall increase from 300 MWh to 1,000 MWh, the recycling capacity is planned to jump from 1,000 tpy to 10,000 tpy, reports The Hindu.

The plan is due to be carried out within the next 12 to 18 months. The recycling capacity would be increased to 2 GWh of recyclable material. Lohum has already raised INR 500 million (EUR 5.7 million) and intends to raise up to INR 3 billion (EUR 34.2 million) for its expansion plans. Talks have already reached the advanced stage and closure of the funding is expected within the next 4 to 5 months.