Ace Green Recycling, Inc., a leading provider of sustainable battery recycling technology solutions, announced that it has secured a battery material supply agreement with OM Commodities, a leading global commodities trading firm that specializes in trading ferrous and non-ferrous scrap, primary metals and residues.
As part of the agreement, OM Commodities will supply Ace with at least 30,000 metric tons of lead scrap annually, which the Company expects to recycle at its planned flagship facility in Texas with production expected to commence in 2026. The level of feedstock is sufficient to cover 100% of Ace’s phase one recycling capacity at its future Texas facility. The agreement is for a term of at least 15 years and provides Ace with the option to obtain more supply from OM Commodities as Ace scales up its recycling operations. The Company and OM Commodities are in active discussions for future lithium battery recycling collaborations.
“Ace is a true pioneer when it comes to providing an environmentally friendly and economically superior solution to recycle valuable material from lead scrap,” Yiannis Dumas, President 聽of OM Commodities, said. “We look forward to supporting Ace with lead feedstock as they scale up their operations in Texas and helping create a more circular and sustainable battery materials supply chain in the U.S.”
“We believe that Ace’s future Texas facility is poised to play a key role in addressing many of the current challenges in the lead industry in the U.S., while helping the country meet the growing domestic demand for valuable battery materials,” Nishchay Chadha, CEO and Co-Founder of Ace, said. “This agreement with OM Commodities will provide us with enough supply to support our Texas facility during all of its current planned phases, enabling us to achieve optimal efficiencies as we deploy our solutions in the U.S. market. With OM Commodities being a U.S.-based leader in metals doing business across the Americas and Asia with a specialty in lead batteries, we look forward to leveraging their expertise in the space as we advance our scale-up efforts.”