Ace Green Recycling and Spiro Announce Strategic Partnership for Sustainable Battery Circularity in Africa

Africa's largest EV company selects Ace as exclusive global recycling partner to strengthen sustainable operations

Ace to recycle lithium-ion battery material, including LFP batteries, from Spiro's end-of-life batteries and waste material from its battery manufacturing in Africa

Agreement supports Ace's global growth strategy with future opportunities to jointly develop African facilities with Spiro, leveraging the company's patented and environmentally friendly battery recycling technology

HOUSTON, Jan. 27, 2025 /PRNewswire/ -- Ace Green Recycling, Inc., a leading provider of sustainable battery recycling technology, and Spiro, Africa's largest electric vehicle (EV) company and recognized leader in sustainable mobility, have signed a strategic agreement to support the circular battery value chain in Africa. The partnership will see Ace recycle end-of-life lithium-ion batteries, including LFP batteries, as well as waste from Spiro's battery manufacturing facilities.

As part of the agreement, Spiro has named Ace as its exclusive global preferred recycling partner. Ace and Spiro will collaborate to develop co-located recycling centers near Spiro's collection hubs, utilizing Ace's proprietary, environmentally friendly technology. The partnership will emphasize the safe handling and recycling of batteries and support Spiro's sustainable growth as it scales its operations across Africa.

"Spiro's focus on circularity has been at the core of deploying the largest electric mobility fleet in Africa. As Spiro leads the decarbonization of Africa's transportation sector, partnering with Ace will further accelerate this progress in a sustainable and responsible manner. This collaboration reinforces our commitment to SDG 13 (Climate Action) and SDG 12 (Responsible Consumption and Production), while building a circular value chain that reduces carbon emissions and supports local economic development," said Kaushik Burman, CEO of Spiro.

"Leveraging our innovative and green LithiumFirst™ technology that efficiently and effectively recycles lithium-ion battery material, including LFP, we are focused on scaling our modular solution to support a circular value chain that meets the growing demand for recycling," said Nishchay Chadha, CEO of Ace. "Spiro is a pioneer in Africa when it comes to electrifying its transportation sector, and we look forward to supporting its continued growth with our technology and services. This agreement serves as the foray for Ace in the African market as we continue to rollout our global deployment strategy."

About Ace Green Recycling

Ace Green Recycling, Inc., incorporated in Delaware, is an innovative battery recycling technology platform offering sustainable end-of-life solutions. It has deployed modular, Scope 1 carbon emissions-free recycling facilities for lithium (NMC & LFP) and lead batteries used in various industries, including electronics, automotive, and energy storage. Ace was founded by Nishchay Chadha, Chief Executive Officer and a veteran in recycling, mining, and global supply chain industries, and Dr. Vipin Tyagi, Chief Technology Officer, with extensive experience in battery materials recycling technologies. For more information, please visit www.acegreenrecycling.com.

About Spiro

Spiro is Africa's largest electric vehicle company, with more than 22,000 innovative electric bikes deployed across the continent, delivering clean energy and sustainable transportation in Nigeria, Kenya, Uganda, Rwanda, Benin, Togo, Ghana and Tanzania. Spiro riders have collectively driven more than 300 million kilometres without polluting Earth's atmosphere, avoiding over 21,000 tonnes of CO₂ emissions. Spiro provides a comprehensive support network for electric vehicles, including battery swapping, fast chargers, and home charging solutions. Spiro's technical innovation centres, based in Pune and Lagos, have developed the technology platforms to deliver a Pan-African smart energy ecosystem, powering the transition to sustainable transportation across the continent. Our mission is to lead the transition to clean energy and smart transportation, ensuring a greener future for the continent.

Contacts:

Media (Ace):
[email protected]

Investors (Ace):
[email protected]

Media (Spiro):
Lee Breheny, Chief Communications Officer (CCO), Equitane
+44 07590 847020

Forward-Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements generally can be identified by the use of words such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. Such statements include statements regarding the intent, belief or current expectations of Ace and members of its management as well as the assumptions on which such statements are based. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties that could cause actual events or results to vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this press release are made as of this date, and Ace undertakes no duty to update such information except as required under applicable law.