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Deals support Ace's broader strategy to generate revenues in a capital efficient manner
Deployment in Armenia serves as springboard for Ace's recycling solutions to expand in the Southern Caucasus and as a gateway to additional expansion in Europe
HOUSTON, Feb. 19, 2025 /PRNewswire/ -- Ace Green Recycling, Inc. ("Ace" or the "Company"), a leading provider of sustainable battery recycling technology solutions, today announced the Company has signed two key agreements to license its technology and battery recycling equipment to Mel Metal LLC ("Mel Metal"), a leading Armenian non-ferrous scrap recycling company. As part of these deals, Ace expects to license its proprietary GREENLEAD® Recovery Technology and sell and license its lithium battery equipment services to Mel Metal in Armenia and Georgia.
Armenia is a strategic location for Ace as it sits at the heart of the Southern Caucasus and Ace believes it can provide a springboard for the Company to deploy its sustainable battery recycling solutions into neighboring Georgia. In addition, Armenia serves as a gateway to critical European markets. Through this collaboration, Ace plans to establish the foundation of environmentally friendly lead and lithium battery recycling, with strong commercial partnerships, to support the growth of the region's lead and lithium battery value chain.
As part of the lead battery recycling aspect of the deal, Ace will license its technology for the sustainable, hydrometallurgical recycling of lead batteries over a 15-year period. Mel Metal will purchase lead battery recycling machinery from Ace that will allow it to process up to 6,000 metric tons of lead batteries per year with the option to acquire more recycling capacity. In addition, Ace will generate revenue by selling and supplying proprietary chemicals and enabling the use of Ace's GREENLEAD® trademark. Mel Metal's lead recycling operations using Ace's technology are expected to start in the third quarter of 2025.
In addition to the lead agreement, Ace will sell and license its lithium battery breaking and shredding equipment and battery discharging system to support Mel Metal's lithium battery recycling operations. Mel Metal's lithium battery recycling operations using Ace's equipment and system are also expected to start in the third quarter of 2025.
"Ace is an innovative and global technology leader in the battery recycling space, and we look forward to partnering with them to support a more circular battery material ecosystem in the Southern Caucasus," said Mr. Armen Hayrapetyan, Chairman of the Edmet group of companies, which is the parent company of Mel Metal. "Unlike traditional smelting processes, Ace's hydrometallurgical battery recycling processes emit zero Scope I carbon emissions. By leveraging Ace's technology, equipment, and know-how, Mel Metal is actively supporting a green transition by reducing CO2 emissions and developing a clean source of valuable materials for reuse in new batteries. Furthermore, Ace's process also allows for the recovery of plastics and reduces the generation of slag materials into landfills."
"We are proud to partner with Mel Metal, a first mover in green recycling in Armenia, as together we are playing a crucial role in developing a sustainable, domestic battery recycling ecosystem in Armenia and the broader Southern Caucasus region," said Nishchay Chadha, CEO and Co-Founder of Ace. "Without Ace's technology and equipment in Armenia, scrap battery material would likely be exported or undergo a pollutive pyrometallurgical material recovery process. Securing both these lead and lithium agreements supports Ace's broader strategy to generate revenues in a capital efficient manner while we deploy our modular and sustainable recycling solutions globally."
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 (nickel-manganese-cobalt & lithium iron phosphate) 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.
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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.
