Green Giant and ACE Green Recycling Signs LOI to Develop Lithium-ion Recycling Facility in Texas

The two companies signed a non-binding LOI to form a joint venture (JV) that will develop and operate the recycling plant, which will be located on land purchased by GGE Texas who will also fund the build-out of the plant with a $3 million investment.

The JV will use ACE's proprietary technology and process for sustainably recycling lithium-ion batteries, including end-of life batteries, rejected batteries and other defective batteries sourced from around the region.

Once completed, the facility will incorporate ACE's modular equipment design to recycle an estimated 1,800 metric tons of lithium batteries per year.

GGE Texas CEO Junaid Ali said, "Our partnership with ACE furthers our goal of investing in, developing and servicing green energy projects that provide solutions to clean energy transition challenges. The development of a sustainable lithium-ion battery recycling facility in Houston will not only advance circularity of battery materials in the U.S. but will also create positive economic growth for this market."

"We are excited to expand our operations in Houston with our clean battery recycling solutions and are delighted to partner with GGE Texas to create a sustainable, closed-loop battery value chain for the U.S.," said Nishchay Chadha, co-founder and CEO of ACE. "This partnership demonstrates that ACE's modular commercial solutions can help advance electrification in the U.S. with low capital requirements and grow the operations as the EV market grows."