Battery recycling technology startup Ace Green Recycling raised $7 Mn funds led by Circulate Capital
Battery recycling technology startup Ace Green Recycling raised $7 million funds led by Circulate Capital where Climate Angels along with angel investors also participated. With this round, the startup’s total fund raised stands at $10 million.
ACE Green is a recycling technology firm specialising in battery materials. The company claims to have developed the world's cleanest and most effective lead-acid battery recycling technology and is now focusing on the development of fossil-fuel-free lithium-ion battery recycling technology. According to the startup, the funds raised will be used to develop its li-ion reusable technology and to grow its 30-person team to 50 in the next three months. It intends to expand its team of 30 people based in India, the United States, and Singapore to 50 in the next three months. The startup generates revenue by licencing its technology as plug-and-play as well as through its own factories.