Ms. Leena Nandan, India’s Hon’ble Secretary of the Ministry of Environment, Forest and Climate Change (MoEFCC), during the 7th edition of FICCI Circular Economy Symposium (CES), felicitated LOHUM with FICCI Circular Economy Award 2024 for Circular Business Models, accompanied by Hervé Delphin, esteemed Ambassador of the European Union (EU) to India.
The FICCI Circular Economy Awards 2024 in the ‘Circular Business Models- Matured’ category was awarded to LOHUM for the company’s closed-loop battery waste management and recycled energy transition material regeneration model of business. LOHUM facilitates a closed-loop materials ecosystem, also referred to as the ‘secondary materials ecosystem’, by effectively converting waste to value, accurately determining battery residual value in real-time, and enabling weighted future battery buyback agreements.
Founder & CEO of LOHUM, Rajat Verma expressed- ““The FICCI Circular Economy Award 2024 for our Circular Business Model has garnered us welcome recognition for our team’s innovation and resolve. We at LOHUM are committed to making every energy transition asset and raw material wholly circular and decarbonized, at the expanding edge of technological feasibility. The FICCI ICEA 2024 highlights LOHUM’s sustained progress in path-breaking technological advancements in transition materials circularity, aiming to catapult India years ahead of its Net Zero commitments.”
LOHUM’s second life Battery Energy Storage System (BESS or ESS) applications and battery diagnostics tools also prolong battery life, thereby dampening the demand for new batteries and mining. Additionally, LOHUM makes data-driven battery asset trading, or ‘future’ battery buyback agreements possible, through the DETX™, which is facilitating partnerships across India’s Clean Energy Transition and EV battery ecosystems.
The FICCI Indian Circular Economy Awards (ICEA)are India’s premier industry awards that recognize and celebrate the achievements of individuals and organizations that have made notable contributions to the circular economy as recognized by the FICCI CES.
