Climate Angels invests in Ace Green Recycling to bolster clean battery recycling technology
ClimateAngels | Feb 17, 2022
Climate Angels recently announced that, after its investment in Beco & Sheru, it had invested in ACE Green Recycling, a company that guarantees a pollution-free battery recycling process.
ACE Green Recycling has created the world’s cleanest and most effective lead acid battery recycling technology and is focusing on the development of fossil fuel free Li-ion battery recycling technology. Unlike the smelting process, ACE operates at room temperature, has zero air emissions and effluents and reduces heavy metal emissions, resulting in substantially less environmental harm.
ACE Green Recycling, a US registered company was founded by Nishchay Chadha, an IIT Dhanbad graduate, and Vipin Tyagi, an IIT Mumbai graduate; and in combination they have 25+ years of experience in metals & recycling industry. It is the only enterprise in the world to have commercialized a sustainable solution for the recycling of Used Lead-Acid Batteries (ULAB). This innovation is a key differentiator, giving the recycling sector a tremendous opportunity to recycle batteries inexpensively and without harming the environment.
Some Numerical Data:
Research suggests that 98% of all lead acid batteries are recycled.
60% lead acid batteries are used in cars and vehicles.
Global battery recycling market is expected to grow from $9.97 billion in 2020 to $11.04 billion in 2021, at a CAGR of 10.76%. The market will reach $19 billion in 2023 at a CAGR of 11.23%.
ACE Green Recycling has raised $7+ million as part of their Pre-Series A round. The current round of funding was led by Circulate Capital, with participation from Climate Angels and senior professionals from metals and battery recycling industry like Simon Collins (TradeCloud), Raoul Bajaj, Julian Gonzalez (ArrowMetals), Navneet Chadha (Triumph Services), Zal Devitre (Tenperel Capital) and Ben Thomson (BHTB). Circulate Capital is an investment management firm that invests in innovations, companies, and infrastructure to prevent the flow of plastic waste into the world’s oceans and promote a carbon-neutral circular economy in emerging markets. Because all ULABs are housed in polypropylene (PP) cases, ACE’s world-class solution minimizes plastic leakage by formalizing the closed loop recycling process and entirely recovering the PP casings for reuse.
Speaking about the investment, Mr. Sumeet Singh, Managing Partner of Climate Angels Fund said, “We are excited to work with ACE Green Recycling, which is working to make battery recycling a low-polluting process. 100% of lead in lead acid batteries is recycled into new batteries; however, this process is highly energy-intensive and polluting. ACE’s proprietary technology can recycle ULAB at room temperature in place of very high temperature conventional smelting, is more cost-efficient, releases zero GHG emissions, reduces solid waste by 80%, and mitigates toxic lead pollution.
Countries like India and China, which are dealing with severe air and water pollution, will greatly result in more efficient. Smelting will get more challenging in the United States, South Korea, Australia, and the European Union as environmental standards strengthen. As of present, this is the only technology that can be deployed in additional capacity expansions in some of these countries.