Circulate Capital leads a $7 million funding round for Ace Green Recycling

• ByStartupStory     |    February 18, 2022

Ace Green Recycling, a battery recycling technology startup, has secured nearly $7 million from Circulate Capital in a fundraising round. Along with angel investors, Climate Angels took part in the round. To date, the business has received around $10 million, including this round.

Nishchay Chadha and Vipin Tyagi, who have over 25 years of expertise in the metals and recycling industries, formed the company.

The company is said to have developed the world’s cleanest and most effective lead-acid battery recycling technology and is now working on developing fossil-fuel-free lithium-ion battery recycling technology. ACE, unlike traditional recycling processes that require smelting, runs at room temperature, emits no air or effluents, and decreases heavy metal emissions, resulting in far less environmental impact, according to the company.

Lead and lithium-ion batteries are utilized in a variety of applications, including automobiles, telecommunications, power production, and data centers, to mention a few. With the rapid growth of the electric car sector in India and throughout the world, environmentally responsible battery recycling will become even more important, since traditional battery recycling may be a substantial polluter.

The firm operates a recycling factory in the National Capital Region of New Delhi and wants to expand internationally, especially in Thailand. Vietnam and Dubai are also on the agenda. Massive Mobility in India has inked a memorandum of understanding with the startup, which has a global client base. The funding will also be used to further its lithium-ion recycling technology.

In the next three months, it wants to expand its staff of 30 individuals – split between India, the United States, and Singapore – to 50. The company makes money by licensing its technology as plug-and-play and running its plants.

Follow Startup Story