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India

Lohum

A private Noida-based lithium-ion battery recycler and critical minerals company, founded in 2017, planning an integrated plant in Uttar Pradesh that would make sintered NdFeB magnets from rare earth oxide; the project won approval for India's electronics components incentive scheme in March 2026.

Points to check

Facts from the sources on this page that a reader should weigh before relying on the company's own figures.

At a glance

Founded
2017 — Founded in 2017 by Rajat Verma as a lithium-ion battery pack maker and battery recycler in Noida; it later described itself as a producer of sustainable critical minerals and in 2025-2026 moved into rare earth magnets.
Headquarters
Noida, Uttar Pradesh, India
Ownership
Private (Lohum Cleantech Pvt Ltd); investors include Baring Private Equity Partners India (USD 7 million, January 2021) and Singularity Growth (2024). The REPM bid was filed by Lohum Magnets & Energy Solutions Pvt Ltd.
Stage
Early stage. Oxide-to-magnet project approved for ECMS capital support on March 30, 2026 and described in May 2026 as a pilot facility at its Greater Noida factory; no production, construction milestone or REPM award reported by October 2026.
Listing
Private. Private company; the REPM scheme bid was filed by the affiliate Lohum Magnets & Energy Solutions Pvt Ltd.
Revenue
Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

WhatFigureStatusAs of
Rare earth magnet facility, Uttar Pradesh (basis of the tonnage not stated)2,000 t (company announcement, INR 500 crore)AnnouncedMar 2026
NdFeB magnets, Greater Noida facility5,000 t/yr NdFeB magnets (reported, INR 700 crore)AnnouncedMay 2026

Narrative

Lohum Cleantech Pvt Ltd was founded in 2017 by Rajat Verma in Noida, Uttar Pradesh, to make lithium-ion battery packs and recover nickel, cobalt and manganese from used batteries; Baring Private Equity Partners India led a USD 7 million round in January 2021. On November 10, 2025 Lohum announced an INR 500 crore rare earth magnet production facility in Uttar Pradesh with a stated capacity of 2,000 t, which it said would refine light and heavy rare earth elements and, once fully operational, could meet up to 20% of India's rare earth magnet demand by 2027; no commissioning date was given. On March 30, 2026 the Ministry of Electronics and Information Technology approved the project under the Electronics Components Manufacturing Scheme (ECMS) as an effort to make rare earth permanent magnets from rare earth oxide, with Lohum Cleantech listed at about INR 700 crore of approved investment; a company executive said it expected a capital subsidy of 25%. A May 12, 2026 report described the project as a pilot facility at Lohum's factory at Site 5, Greater Noida, with a capacity of 5,000 t/yr of NdFeB magnets and an investment of INR 700 crore, and said Lohum plans to recover dysprosium and terbium from discarded phones, laptops and drones bought from scrap dealers and e-waste recyclers. On July 28, 2026 Lohum signed a memorandum of understanding with CSIR-Institute of Minerals and Materials Technology to develop and validate a process for metallized NdPr; no volumes or investment were stated. Lohum Magnets & Energy Solutions Pvt Ltd was among 20 bidders whose technical bids the Ministry of Heavy Industries opened on August 13, 2026 under the INR 7,280 crore REPM scheme. As of October 19, 2026, no source reported magnet production, an NdPr oxide supply agreement or an award under the REPM scheme.

Where public sources disagree

Sources

  1. Lohum INR 500 crore magnet plant gets ECMS approval — Business Today (2026-03-31)
  2. Rare earth magnet plant to be set up in Greater Noida — KNN India (2026-05-12)
  3. Govt approves Lohum's rare earth magnet plan under ECMS — Autocar Professional (2026-03-30)
  4. Lohum launches INR 500 crore magnet facility (PTI) — The Week (2025-11-10)
  5. Lohum and CSIR-IMMT MoU on NdPr metallization — The Daily Pioneer (2026-07-28)
  6. ECMS approvals list (Lohum Cleantech INR 7 billion) — Indian Infrastructure (2026-03-31)
  7. REPM scheme bidders incl. Lohum Magnets & Energy Solutions — DD India (2026-08-13)
  8. Lohum raises USD 7 million from Baring PE (founded 2017) — YourStory (2021-01-18)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

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