Ace Green Recycling

Ace Green Recycling is an Indian recycling company that processes used lead-acid batteries (ULABs) and separately recycles plastic and other materials in batteries. The company generates revenue through technology licensing and establishing recycling plants for partnered customers.

In May 2022, the company announced plans to construct a 400,000 sq ft sustainable battery recycling park in Texas, US, expected to be at full capacity by 2025, processing and recycling up to 100,000 metric tons of used lead-acid batteries and 20,000 metric tons of used lithium-ion batteries per year. During the same period, the company also announced plans to build battery recycling facilities in India and Thailand with a combined capacity of 10,000 tons when fully operational in 2025.

Key customers and partnerships

• In February 2023, the company signed a Memorandum of Understanding (MOU) with STC to integrate STC's technologies with ACE's zero Scope 1 emissions technologies for lead and lithium-ion batteries.

• In March 2023, the company partnered with Green Giant Energy Texas (GGE Texas) to build a lithium-ion battery recycling plant in the greater Houston area.

• In June 2023, the company also partnered with Hakurnas Lead Works to set up greenhouse gas (GHG) emission-free battery recycling facilities in Israel and Romania.

• In October 2023, ACE signed a Cooperative Research and Development Agreement (CRADA) with the US Department of Energy's National Renewable Energy Laboratory (NREL) to develop its lithium-ion battery recycling technology for recycling graphite, lithium-iron phosphate (LFP) and other cathode-active materials (CAMs).

• In January 2024, the company delivered the first of three phases of its lead battery recycling technology to lead alloy manufacturer ACME Metal Enterprise's facility in Keelung City, Taiwan.

Funding and Financials

In February 2022, the company raised over USD 7 million in a funding round led by Circulate Capital.