Battery recycling pioneers, ACE Green Recycling, have secured a long-term offtake agreement with Glencore PLC to supply recycled battery materials.
Diversified mining company Glencore PLC is aiming to become a net-zero company by 2050 and, in the short term, has goals of reducing emissions by 50% by 2035 compared to 2019 levels and a 15% reduction by 2026. The newly established offtake agreement for acquiring recycled battery materials from ACE Green Recycling will be key to achieving these ambitions.
What will the agreement involve?
The offtake agreement will see Glencore take 100% of ACE’s products from four of the start-ups scheduled lead-acid and lithium-ion battery recycling parks, which are currently being constructed in the United States, India, and Thailand as part of a 15-year agreement.
The four parks are expected to be completed by 2025. Once up and running, the parks will produce 1.6 million tons of recycled battery materials containing lead, lithium, nickel, and cobalt. ACE’s first lithium-ion battery recycling park is due to start later this month in Ghaziabad, India. The facility will recycle a range of battery chemistries used in electric vehicles.
About ACE’s battery recycling technology
ACE’s battery recycling system is based on the company’s proprietary emissions-free technology that employs a modular approach. The recycling modules can be set up back-to-back to break down lithium, lead-acid and metal scrap into component parts. The process has exceptional recovery rates of 99% and 98% for lead-acid and lithium-ion batteries, respectively.
Nishchay Chadha, the co-founder and Chief Executive of ACE, commented: “To safeguard a greener future, we need to create sustainable and localised circular supply chain solutions to ensure these critical battery materials are available indefinitely.”
