Updated: May 31
The Economic Times | Tech
The startup has a global client base and recently signed a memorandum of understanding with Massive Mobility in India. It will also use the funds to develop its li-ion recycling technology.
Mumbai: Ace Green Recycling, a battery recycling technology company, has raised over $7 million in a funding round led by Circulate Capital. Climate Angels also participated in the round along with angel investors.
The startup has raised about $10 million to date, including this round.
It was founded by Nishchay Chadha and Vipin Tyagi who have over 25 years of experience in metals and recycling industry.
The startup claims to have created the world's cleanest and most effective lead-acid battery recycling technology and is focusing on the development of fossil fuel-free li-ion battery recycling technology. Unlike the typical recycling process that involves smelting, ACE operates at room temperature, has zero air emissions and effluents and reduces heavy metal emissions, resulting in substantially less environmental harm, it said.