LOHUM and Log9 has announced a collaboration for addressing the pressing issue of sustainable battery disposal within the electric vehicle (EV) sector. Their collaboration focuses on resolving the challenges related to trust, transparency, and accountability in determining the remaining worth of lithium-ion batteries. Additionally, this alliance seeks to expedite Log9’s net zero materials transition initiatives by optimising the use of their annual production of 250 MWh LTO EV batteries, even after their initial life cycle ends. This involves repurposing these batteries to create innovative solutions for storing renewable energy.
This partnership is facilitated by LOHUM’s DETX platform, which serves as a battery asset trading. DETX empowers key players in the energy transition sector to make informed decisions by offering precise, transparent, and weighted forecasts for future battery buyback and battery material prices. By granting unparalleled visibility into battery material transactions, DETX equips Log9 with the means to reduce emissions associated with their innovative LTO batteries while optimising the profitability of all their batteries, regardless of their stage in the lifecycle.
Log9 has pioneered a novel approach to financing in the EV industry by incorporating chemistry-specific financial metrics, like LTO chemistry and the residual value of LTO battery packs. This strategy has played a pivotal role in Log9’s ability to establish a closed-loop circular economy for Lithium-ion batteries. By doing this, Log9 has empowered partners like LOHUM to proactively secure their battery supply well in advance, fostering sustainability and stability in the supply chain. This partnership aims to create a reliable system for the responsible disposal of Log9’s LTO batteries, known for their extended lifespan with the capacity to endure more than 15,000 cycles in EV applications. Furthermore, LOHUM will facilitate Log9 in meeting its material recovery goals seamlessly as its LTO batteries reach the end of their usefulness in their initial application. This collaboration underscores a commitment to sustainable battery management and environmental responsibility.