ACE Green Recycling (ACE), an innovative recycling platform for battery materials, has signed an equipment supply and licensing agreement with Hakurnas Lead Works, a leading secondary lead smelter in the Middle East, to set up greenhouse gas (GHG) emission-free battery recycling facilities in Israel and Romania.

As part of this partnership, ACE will sell its proprietary equipment and chemicals to Hakurnas and provide technical and engineering support for installation, commissioning, and process optimization. Initial operations using ACE's equipment are expected to commence at the Hakurnas plant in Ashdod by Q4 2023, with plans to scale up in phases upon receiving necessary authorizations. Once fully deployed, these facilities are projected to recycle 50,000 tons of scrap batteries every year, generating USD 60 million in lead metal sales annually.

ACE also announced its plans to raise USD 100 million in its upcoming funding round to support its expansion plans.

Analyst QuickTake: ACE has been expanding its market presence in battery-recycling technology through multiple partnerships. Earlier this year, the company formed a partnership with Giant Energy Texas to construct a lithium-ion battery-recycling plant in the greater Houston area. Apart from this, the company has also collaborated with STC , Tabono , and Glencore to establish recycling facilities and facilitate equipment supply.