Latest News | Li-ion Battery Manufacturer, Recycler Lohum Signs Pact with Mercedes-Benz Energy for Second-life Batteries
Get latest articles and stories on Latest News at LatestLY. Lithium-ion battery pack manufacturer and recycling company Lohum on Wednesday said it has signed a multi-year supply contract agreement for second-life batteries with Mercedes-Benz Energy.
New Delhi, Jan 4 (PTI) Lithium-ion battery pack manufacturer and recycling company Lohum on Wednesday said it has signed a multi-year supply contract agreement for second-life batteries with Mercedes-Benz Energy.
The agreement will enable Lohum to secure high volumes of second-use battery modules from Mercedes-Benz Energy with the partners committing to a minimum offtake schedule of 50MWh per annum across multiple second life module variants, the company said in a statement.
"Second life (for batteries) remains very nascent and Mercedes-Benz Energy's creativity, process and commitment to safety has helped us expand our business significantly," Lohum co-founder and Head of International Operations Justin Lemmon said.
Mercedes-Benz Energy CEO Gordon Gassman said Lohum is thinking about second life in a very different way than most companies with a truly long-term focus.
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"Lohum is developing expertise and applications across multiple module variants to create a long-term supply funnel. This flexibility and model unlocks value for both parties and defines the innovation and reliability we seek in strategic partnerships," Gassman added.
The statement said the two companies continue to evaluate new collaboration opportunities across regions considering Mercedes-Benz Energy access to used inventory across the globe and Lohum's current footprint in Asia combined with its entrance into the US market.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)