The US-based company ACE Green Recycling is planning to set up four new recycling plants for lithium-ion batteries in the US, Thailand and India with the aim to operate a combined capacity of 30,000 tonnes. The largest plant will be located in the US with a capacity of 20,000 tonnes.
ACE Green Recycling is a startup with based out of Singapore and the US and with presence in India. The company has developed a technology for hydro metallurgical treatment of lead-acid batteries and has received an order for a first plant in India.
The aim is to now use the technology for recycling of lithium-ion batteries. The lithium-ion battery recycling operations in India are expected to commence by the third quarter of 2022 with initial processing capacity of 1800 tons per year, while Thailand and USA would come online in 2023 with full operational capacity planned to be achieved across all facilities by 2025.
The US-based lithium-ion battery recycling plant will be co-located with the company's second deployment of its lead-acid battery recycling technology in Texas. At a 400,000 square foot facility both lead-acid and lithium-ion batteries will be recycled: 100,000 tonnes of used lead-acid batteries and 20,000 tonnes of used lithium-ion batteries annually by 2025.
The company has raised $10M from the US-based impact investment fund Circulate Capital with a mandate to invest in South and Southeast Asia. Funding for this type of plants, at this scale, typically require investments significantly higher than that The company has shared any information about planned additional funding. Neither does the company share any information about its technology or how batteries will sourced or pre-processed.