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A global agreement creates a strategic partnership to support a circular and sustainable ecosystem for recycled battery materials
HOUSTON and BAAR, Switzerland, Dec. 5, 2022 /PRNewswire/ -- ACE Green Recycling (ACE), a global supply chain and recycling technology platform, and Glencore plc (LON: GLEN), one of the largest recycling companies in natural resources in the world and one of the leading producers and recyclers of metals for battery production, today announced that they will enter into a long-term supply agreement for recycled lead as well as key metal-based end products for lithium-ion batteries. recycled lithium. This strategic partnership will help create a global, circular supply chain for these high-demand materials, while reducing their environmental footprint.
The 15-year agreement allows Glencore to purchase up to 100% of ACE's products at four of its lithium-ion and lead-acid battery recycling parks being built in the US, India and Thailand. The parks are expected to be completed in 2024. Once operational, ACE estimates that these recycling parks will cumulatively produce 1.6 million tons of recycled metals containing lead, lithium, nickel and cobalt.
"Our partnership with ACE furthers our goal of creating a leading global circularity platform for battery metals. These recycling parks will not only provide a unique national, but also regional, solution to foster circularity in batteries, both high and low voltage. The partnership will also support our ambition to become a net zero (Scope 1,2,3) company by 2050," said Kunal Sinha, head of recycling at Glencore.
Understanding the crucial role batteries play in the shift towards global electrification and renewable energy adoption, ACE has developed a portfolio of proprietary technologies to recycle batteries with zero Scope 1 emissions and extract their critical materials with a minimal environmental footprint. . Pioneering innovative hydrometallurgical recycling processes for both lead-acid (LAB) and lithium-ion (LIB) batteries, with recovery rates greater than 99% and 98% respectively, the company has developed solutions closed cycle and environmentally sustainable for the end of the useful life of both types of batteries.
"We are delighted to partner with Glencore and together contribute to the sustainability of global electrification," said Nishchay Chadha, Co-Founder and CEO of ACE. "To safeguard a greener future, we need to create localized, sustainable, circular supply chain solutions that ensure the indefinite availability of these critical battery materials."
Once operating on a commercial scale, it is estimated that the ACE recycling facilities that are part of this agreement will have a total annual processing capacity of 250,000 tons of LAB and 47,000 tons of LIB.
ACE's first commercial LIB recycling facility will go online this month in Ghaziabad, India, where various types of batteries will be recycled, including lithium nickel manganese cobalt oxide (NCM), lithium oxide and cobalt (LCO) and lithium iron phosphate (LFP), to extract valuable materials from batteries. A second Indian facility at Mundra is expected to come online in Q4 2023, at the same time as ACE's flagship plant in Texas, USA, comes online. Both facilities are expected to process up to 100,000 tons of LAB and 20,000 tons of LIB per year by 2025.
The global agreement between ACE and Glencore will enable the expansion and improvement of battery circularity in both developed and emerging markets. With its cost-competitive, automated and sustainable solutions, ACE aims to bring a radical change to the processing and recycling of waste batteries.
Dr. Vipin Tyagi, another co-founder and CTO of ACE, said, "Our battery chemistry-agnostic, modular recycling technology platform offers the flexibility to customize our solutions for both developed and developing markets. that are under development. Coupled with positive ESG components and cost competitiveness, ACE's battery recycling solutions provide real-world business and social benefits."
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Disclaimer
The companies in which Glencore plc has a direct and indirect interest are separate and distinct legal entities. In this document, the terms "Glencore", "Glencore Group" and "Group" are used solely for convenience when referring to Glencore plc and its subsidiaries generally. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or those who work for them. These expressions are also used when the identification of the specific company or companies is of no use.
Forward Looking Statements
This press release contains certain forward-looking statements regarding ACE's technological capabilities and future business aspirations. All of these statements are based on ACE's current expectations and involve a number of business and technical risks and uncertainties that could cause actual results to differ materially from the anticipated results described, implied or projected in any forward-looking statement, including, without limitation, regulatory approvals, unexpected changes in technologies, uncertainties inherent in technology development, scale and deployment, protection of intellectual property and the sources and availability of third-party funding.
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