Ace Green Recycling Secures Agreement with OM Commodities to Supply Flagship Texas Facility

 OM Commodities to supply Ace with at least 30,000 metric tons of lead annually, which the Company will recycle using its fully electrified process that produces zero Scope 1 emissions

Ace advances plans to become a public company in the U.S. with the filing of its Form S-4 with the SEC

HOUSTON, April 30, 2025 /PRNewswire/ -- Ace Green Recycling, Inc. ("Ace" or the "Company"), a leading provider of sustainable battery recycling technology solutions, today 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  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."

With more than 1.5 million metric tons of lead battery scrap available for recycling in the U.S. alone, there is a critical gap in smelter capacity to keep valuable lead material within the domestic supply chain. Ace's GREENLEAD® recycling 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. The Company's process is designed to replace legacy smelting operations that are detrimental to the environment and human health due to potential lead poisoning. This innovation helps to facilitate a more streamlined permitting process.

Ace Advances Public Listing Plans

On April 29, 2025, Ace and Athena Technology Acquisition Corp. II ("ATAC II") filed a Registration Statement on Form S-4 (the "S-4") with the U.S. Securities and Exchange Commission ("SEC") in connection with the companies' previously announced business combination, pursuant to the business combination agreement that Ace and ATAC II entered into on December 4, 2024, which is expected to be completed in the second half of 2025, subject to customary closing conditions. Once completed, Ace is expected to become a public company in the U.S. with its common stock listed on the Nasdaq Stock Market LLC. The Company expects its common stock to trade under the ticker "AGXI."

"This filing is an important step in Ace's plans to become a public company in the U.S.," continued Mr. Chadha. "As we continue to scale our lead and lithium battery recycling technologies to help support the markets for both internal combustion engines and electric vehicles, we expect that our upcoming listing will be a key accelerator of growth for Ace."

Additional information about the proposed transaction, including a copy of the business combination agreement, is available in the S-4, which can be accessed at www.sec.gov.

About Ace Green Recycling

Ace Green Recycling, Inc., incorporated in Delaware, is an innovative battery recycling technology platform offering sustainable end-of-life solutions. It has deployed modular, Scope 1 carbon emissions-free recycling facilities for lithium (nickel-manganese-cobalt & lithium iron phosphate) and lead batteries used in various industries including electronics, automotive and energy storage. Ace was founded by Nishchay Chadha, Chief Executive Officer and a veteran in recycling, mining and global supply chain industries, and Dr. Vipin Tyagi, Chief Technology Officer, with extensive experience in battery materials recycling technologies. For more information, please visit www.acegreenrecycling.com.

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Forward-Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements generally can be identified by the use of words such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. Such statements include statements regarding the intent, belief or current expectations of Ace and members of its management as well as the assumptions on which such statements are based. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties that could cause actual events or results to vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this press release are made as of this date, and Ace undertakes no duty to update such information except as required under applicable law.

SOURCE Ace Green Recycling