ACE Green Recycling, Inc. Market Research Report

Background

Overview

ACE Green Recycling, Inc. is a Delaware-incorporated company specializing in sustainable battery recycling technology solutions. The company focuses on providing end-of-life solutions for lead and lithium-ion batteries used across various industries, including electronics, automotive, and energy storage. ACE Green Recycling operates globally, with facilities in India, Taiwan, and plans for expansion in the United States and other regions.

Mission and Vision

ACE Green Recycling's mission is to advance global electrification by creating sustainable supply chain solutions for critical metals through innovative battery recycling technologies. The company's vision is to establish itself as a global leader in advanced battery recycling, contributing to a greener and more sustainable future.

Primary Area of Focus

The company's primary focus is on the recycling of lead and lithium-ion batteries, utilizing proprietary, fully electrified processes that produce zero Scope 1 emissions, zero toxic water, and zero solid waste. This approach aims to recover critical materials such as lead, lithium, nickel, cobalt, and graphite, thereby supporting the circular economy and reducing environmental impact.

Industry Significance

ACE Green Recycling plays a pivotal role in the battery recycling industry by addressing the growing demand for sustainable and efficient recycling solutions. Its innovative technologies contribute to reducing environmental pollution, conserving natural resources, and enhancing the security of supply chains for critical battery materials. The company's operations support the global transition towards electrification and renewable energy sources.

Key Strategic Focus

Core Objectives

• Global Expansion: Establish a global presence by deploying recycling facilities in key markets, including the United States, Europe, and Asia.

• Technological Leadership: Develop and implement advanced, zero-emission recycling technologies to recover critical materials from end-of-life batteries.

• Sustainable Practices: Promote environmentally responsible recycling processes that minimize waste and reduce carbon footprints.

Specific Areas of Specialization

• Lead Battery Recycling: Utilize the GREENLEAD® process to recover up to 99% of battery-grade lead with over 99.98% purity.

• Lithium-Ion Battery Recycling: Employ the LithiumFirst™ technology to recover up to 75% of lithium with over 99% purity from LFP and NMC batteries.

Key Technologies Utilized

• GREENLEAD® Process: A fully electrified, hydrometallurgical recycling process for lead batteries that produces zero Scope 1 emissions and minimizes solid waste.

• LithiumFirst™ Technology: A closed-loop hydrometallurgical process for lithium-ion batteries that recovers valuable materials without generating toxic waste or carbon emissions.

Primary Markets Targeted

• United States: Establish a flagship recycling facility in Texas to process both lead and lithium-ion batteries.

• Asia: Expand operations in Taiwan, Thailand, and Armenia to cater to the growing demand for sustainable battery recycling in these regions.

• Europe: Explore opportunities for facility deployment to support the European market's recycling needs.

Financials and Funding

Funding History

As of April 15, 2025, ACE Green Recycling has filed 108 patent applications across 35 patent families, indicating a strong commitment to innovation and intellectual property development.

Recent Funding Rounds

• Business Combination Agreement: On December 4, 2024, ACE Green Recycling entered into a definitive business combination agreement with Athena Technology Acquisition Corp. II (ATAC II), a special purpose acquisition company (SPAC). This transaction valued ACE at $250 million and was expected to close in the first half of 2025, subject to customary closing conditions.

Notable Investors

The company has established a robust network of supply chain partners, including a 15-year offtake agreement with Glencore, one of the world's largest diversified natural resource companies and a leading entity in the recycling industry.

Intended Utilization of Capital

The capital raised through the SPAC merger and strategic partnerships is intended to fund the expansion of ACE Green Recycling's operations, including the development of new recycling facilities in the United States, Europe, and Asia. The funds will also support research and development efforts to enhance recycling technologies and increase processing capacities.

Pipeline Development

Key Pipeline Candidates

• Texas Facility: A flagship recycling plant in Texas, USA, designed to process both lead and lithium-ion batteries. The facility is expected to commence operations in phases, with full capacity achieved by 2025.

• Armenia Projects: Two recycling projects in Armenia, covering both lead-acid and lithium-ion battery processing systems. Commissioning and full commercial production for both facilities are targeted for April-May 2026.

Stages of Development

• Texas Facility: Phase 1 operations are expected to begin in the third quarter of 2023, focusing on lead-acid battery recycling, followed by the addition of lithium-ion battery recycling capabilities.

• Armenia Projects: Equipment shipments for both lead and lithium-ion recycling systems have commenced, with commissioning and full commercial production targeted for April-May 2026.

Target Conditions

• Lead-Acid Batteries: Processing of used lead-acid batteries to recover lead and other valuable materials.

• Lithium-Ion Batteries: Recycling of lithium-ion batteries, including LFP and NMC chemistries, to recover lithium, nickel, cobalt, and other critical materials.

Anticipated Milestones

• Texas Facility: Achieve full operational capacity by 2025, processing up to 100,000 metric tons of lead-acid batteries and 20,000 metric tons of lithium-ion batteries annually.

• Armenia Projects: Begin full commercial production in April-May 2026, contributing to regional recycling capabilities.

Technological Platform and Innovation

Proprietary Technologies

• GREENLEAD® Process: A fully electrified, hydrometallurgical recycling process for lead batteries that produces zero Scope 1 emissions and minimizes solid waste.

• LithiumFirst™ Technology: A closed-loop hydrometallurgical process for lithium-ion batteries that recovers valuable materials without generating toxic waste or carbon emissions.

Significant Scientific Methods

• Hydrometallurgical Recycling: Utilizing aqueous chemistry to extract metals from ores or concentrates, providing an environmentally friendly alternative to traditional smelting processes.

• Closed-Loop Process: A recycling method that ensures all materials are recovered and reused, minimizing waste and environmental impact.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed in the available information, ACE Green Recycling's focus on technological innovation suggests potential integration of advanced data analytics and machine learning to optimize recycling processes and material recovery rates.

Leadership Team

Key Executives

• Nishchay Chadha: Co-Founder and CEO. With extensive experience in recycling, mining, and global supply chain industries, Mr. Chadha leads the company's strategic direction and global expansion efforts.

• Dr. Vipin Tyagi: Co-Founder and CTO. An accomplished scientist with expertise in battery materials recycling technologies, Dr. Tyagi oversees the company's technological innovations and R&D initiatives.

• Teodoro Alban, CFA: CFO. Responsible for managing the company's financial operations and strategic financial planning.

• Siddharth Roy: EVP Supply Chain & Business Development. Leads supply chain management and business development strategies to support the company's growth objectives.

• Aaron Wee: VP Strategy & Investments. Focuses on strategic planning and investment opportunities to drive the company's expansion and innovation.

• Rick Stollsteimer: SVP – Operations. Oversees operational readiness and efficiency, particularly at the company's flagship Silsbee, Texas facility.

• Amol Naik: SVP, R&D. Leads research and development efforts to advance recycling technologies and improve material recovery processes.

Leadership Changes

In November 2025, ACE Green Recycling appointed Rick Stollsteimer as Senior Vice President of Operations to lead the operational team and ensure readiness and efficiency at its flagship facility.