Ace Green Recycling, Inc., a leading provider of sustainable battery recycling technology solutions, and Athena Technology Acquisition Corp. II, a special purpose acquisition company, announced that they have entered into a definitive business combination agreement, pursuant to which a wholly-owned subsidiary of ATAC II will merge with and into Ace, with Ace becoming a wholly-owned subsidiary of ATAC II and Ace’s operations becoming the operating business of the combined entity.<\/p>\n
Ace’s revolutionary battery recycling technology focuses on recovering critical battery materials from both lead and lithium-ion batteries. The Company’s innovative and modular technologies are fully electrified, producing zero Scope 1 emissions, zero toxic water and zero solid waste. These capabilities position Ace as a provider of hydrometallurgical recycling solutions without any smelting or thermal processes for both lead and lithium batteries. Ace currently operates commercial facilities in India<\/span> (lithium-ion; since 2023) that it owns and has licensed its technology to ACME Metal in Taiwan<\/span> (lead; since 2024), with advanced plans to deploy its technology by building its own plant in the United States<\/span>. The Company has proven its technology’s commercial credentials by enabling processing of more than three million pounds of lead and lithium batteries in India<\/span> and Taiwan.<\/p>\n The Company’s LithiumFirst\u2122 technology is capable of commercially recovering up to 75% of lithium with a purity exceeding 99% from lithium iron phosphate and Nickel Manganese Cobalt batteries. In addition to recovering Lithium, the Company’s LithiumFirstTM<\/sup> technology also recovers NMC salts, graphite, iron phosphate and other materials such as plastics, steel, aluminum and copper by utilizing a closed-loop hydrometallurgical process that avoids pyrometallurgical operations and produces no liquid waste or Scope 1 carbon emissions.<\/p>\n Ace’s GREENLEAD\u00ae Recovery Technology is a fully electric process that produces zero Scope 1 emissions and is capable of recovering up to 99% of battery-grade lead with more than 99.98% purity. Ace’s process is designed to replace legacy smelting operations, which are detrimental to the environment, as well as human health due to potential lead poisoning, and is expected to facilitate a more streamlined permitting process.<\/p>\n Ace’s expansion strategy centers on the development of battery recycling plants in the U.S., creating centralized hubs for the sustainable recovery of valuable materials from end-of-life batteries. These plants are expected:<\/p>\n