Rajat is a serial entrepreneur with over 18 years of experience in start-ups and technology investing internationally. Prior companies include enterprise software & e-waste. His education includes Indian Institute Technology (Kanpur), MS at Stanford & MBA from Harvard Business School. Rajat Verma, an aerospace engineer, used to work on the re-entry of vehicles from space into the earth’s atmosphere. It was while working with portfolio companies of a private equity fund in India as an entrepreneur, that Rajat came across electronic waste management which set the ball rolling for launching his company Lohum.
Explain About lohum ?
Lohum manufactures lithium-ion battery packs for low power applications and recovers critical battery materials from used lithium-ion batteries through recycling. Our short-term goal is to develop pack and recycling technology that greatly reduces the cost barriers for OEMs and customers by maximizing battery life cycle revenue. Our long-term goal is to create technology that makes battery power sources cheaper & last longer in every part of the globe. Our core belief is that electric mobility and storage solutions should play a dominate roll in the future of these industries. But the advantages of electrification should be enjoyed by all and in every geography. Electrification can’t only occur in wealthy countries and that’s why we are developing technology to drive the cost down and reach all markets.
Where do you see Electric vehicle Market in INDIA by 2025
FAME II will be a strong boost to EV adoption. EVs are already at price parity and the total cost of ownership is below ICE alternatives, and batteries will continue to become less expensive. It is difficult to say where the 4 wheeler market will be by 2025 but India, like China, has a very unique opportunity in electrification because the very large 2 wheeler and 3 wheeler applications. We expect must faster adoption and transition to electric than the government’s targets. And COVID-19 rapidly accelerated the transition to the delivery and logistics segment, which is all focused on being electric due to the environmental and cost advantages. The goal, however, is not only fast electric adoption but that the market leaders are Indian companies versus foreign brands.
Challenges faced in energy sector
The major challenge across the energy sector is the speed of change. Whether OEMs or utility companies, electrification and renewables are creating significant structural challenges for companies across the globe. For EV companies, for example, the entire supply chain is different. And similar to the benefits of countries with oil and gas resources, there is a land grab for battery critical materials such as Cobalt, Nickel, Graphite and Lithium. Companies and countries are developing risk mitigation strategies for access to these critical materials because most countries have no natural resources or processing capability. Recycling is a way to produce these cathode and anode materials and we are excited about the interest level from corporations and governments in our solution.
USP (unique selling point) of Lohum
To our knowledge we are the only firm that can create battery packs from new or used cells and also recycle all of the critical cathode and anode battery materials at the end-of-life without any partners. These capabilities unlock significant opportunities for large and small OEMs to reduce their costs. For example, we are able to offer a 20% buy-back on battery packs because we understand the residual value and have the ability to maximize the battery value after it’s initial use through 2nd life and recycling.
User base they have achieved till now .
Even through lockdown we continued to expand our partnerships based on the enthusiasm for what we are able to do for OEMs. We are currently working with over 25 OEMs, 30 distributors and expanding our service network.
Scope for expansion
Our focus to date has been mobility applications. We are currently in the process of expanding our mobility product portfolio across 2 and 3 wheeler applications and also are in the prototyping stage for an electric bicycle.
Future Plans for next 1-2 years: We are currently expanding with a new factory that will increase our production capacity four-fold to meet existing demand.
How can Techiexpert help them to spread word about their startup
Covid-19 has proved the vital need to increase action around anti-pollution measures. Electric mobility and stationary storage are essential to solving the pollution challenge. It is our collective responsibility to change our future regarding jobs, pollution, and overall global competitiveness so we must act. India not only can benefit from electrifying but can be a global technology leader in this massive emerging industry.