LONDON (Reuters) - U.S.-based ACE Green Recycling, which has developed a lead battery recycling process with no greenhouse gas emissions, said it will deploy its technology to Israel's Hakurnas Lead Works.
The deal to set up the processing at Hakurnas' facilities in Israel and Romania will progressively create 50,000 metric tons of annual lead battery recycling capacity, worth $60 million of lead metal sales a year, ACE Green added in a statement.
Initial operations using ACE Green's equipment are expected to commence at the Hakurnas plant by the fourth quarter.
ACE Green's technology replaces the hot smelting process for lead battery recycling with one at room temperature, running on electricity.
It has been developed in response to bets that demand for recycled metals, especially with healthy environmental footprint, would rise with the global energy transition.
In December, ACE Green signed a 15-year agreement which allows for global miner and trader Glencore (OTC:GLNCY) to purchase up to 100% of its products from its planned lead-acid and lithium-ion battery recycling parks in several countries.