ACE Green Recycling Signs Inter-Continental Offtake Agreement with Glencore
ACE Green Recycling (ACE) and Glencore plc announced they will enter a long-term supply agreement for recycled lead as well as key battery metal based end products from recycled lithium-ion batteries.
December 06, 2022. By News Bureau
This strategic partnership will help create a circular supply chain on a global scale for these high-demand materials, while reducing their environmental footprint.
The 15-year agreement allows for Glencore to purchase up to 100 percent of ACE's products from four of its planned lead-acid and lithium-ion battery recycling parks being built in the United States, India and Thailand.
The parks are expected to be complete by 2024. Once operational, ACE estimates 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 objective of creating a leading, global circularity platform for battery metals. These recycling parks will not only provide a unique domestic, but also regional solution for furthering circularity in batteries – both high and low voltage. The partnership will also support our ambition to become a net zero total emissions (Scope 1,2,3) company by 2050," said Kunal Sinha, head of recycling at Glencore.
"We are delighted to partner with Glencore and together contribute towards making global electrification sustainable," said Nishchay Chadha, co-founder and CEO of ACE. "To safeguard a greener future, we need to create sustainable and localized circular supply chain solutions to ensure these critical battery materials are available indefinitely."
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