South African company Tabono Investments and US-based ACE Green Recyling have signed a term sheet to form a joint venture to build and operate two environmentally sustainable battery recycling facilities in South Africa. Through the joint venture, the companies aim to bring change to the management of South Africa’s battery waste.
From left: Reon Barnard and Liran Assness, co-founders, Tabono Investments.
Tabono Investments, which operates in specialised sectors in Africa, has experience in mining, logistics and recycling, and ACE Green Recycling offers an innovative recycling platform for battery materials.
“Green energy is on the rise in South Africa,” said Tabono co-founder Liran Assness, “and with it, lead-acid and lithium-ion battery usage.”
The company’s other co-founder Reon Barnard added, “With dedicated, environmentally friendly ways of recycling batteries, the world can use and reuse valuable materials like lead, lithium and cobalt, and power our future in a less harmful way.”
The facilities will process and recycle lead-acid and lithium-ion batteries separately, using ACE’s proprietary technology which creates zero Scope 1 emissions by operating without fossil fuel-based heating. Both recycling facilities will be greenfield projects to be developed and operated by the joint venture. Under the new structure, ACE will have 51% ownership and Tabono 49%.
“We are committed to ensuring emerging markets benefit from our clean battery recycling solutions,” said Nishchay Chadha, ACE CEO and co-founder. “Combining our expertise with Tabono’s, we will enable development of safe and sustainable closed-loop solutions for battery materials in South Africa.”
Once established, the joint venture will leverage each partner’s strengths. ACE has developed a portfolio of proprietary technologies to recycle lead-acid and lithium-ion batteries and capture their valuable materials at market-leading recovery yields. Tabono brings to the joint venture its experience in the minerals and industrial services industries across Botswana, Mozambique, Tanzania and South Africa.
For more information visit: www.tabonoinvestments.com or www.acegreenrecycling.com
