Green Giant, ACE to develop lithium-ion recycling facility in Texas

Green Giant announced that ACE Green Recycling and Green Giant Energy Texas entered into a letter of intent for a strategic partnership to build a commercial lithium-ion battery recycling plant in the greater Houston area and boost sustainable battery recycling in North America. The two companies signed a non-binding LOI to form a joint venture 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 $3M 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. In addition to setting forth the blueprint to build a greenfield lithium-ion battery recycling facility through the JV, the LOI also stipulates GGE Texas will invest a separate $3M toward ACE’s global operations. Other areas of collaboration in the strategic partnership include providing electricity and solar power solutions for ACE facilities, solar panel recycling, feedstock and equipment procurement, and the sharing of engineering, construction management, operations and maintenance resources to optimize the new Texas facility as well as other ACE facilities.