ACE Green Recycling (ACE), an innovative recycling platform for battery materials, partnered with Green Giant Energy Texas (GGE Texas), a subsidiary of GGE, to build a lithium-ion battery recycling plant in the greater Houston area.

The companies signed a non-binding letter of intent (LOI) to form a JV that will develop and operate the recycling plant, which will be located on GGE Texas' land. GGE Texas will fund the build-out of the plant with a USD 3 million investment. The JV will use ACE's proprietary technology and process to recycle lithium-ion batteries, including end-of-life, rejected, and other defective batteries. Once completed, the facility expects to recycle nearly 1,800 metric tons of lithium batteries annually.

The LOI also stipulates that GGE Texas would invest another USD 3 million toward ACE's global operations. GGE Texas would also collaborate in areas such as providing electricity and solar power solutions for ACE facilities, solar panel recycling, feedstock and equipment procurement, and the sharing of engineering, construction management, operations, and maintenance of the new Texas facility and other ACE facilities.