Pondy Oxides & Chemicals Ltd (PONDYOXIDE | 532626) has entered into a partnership with ACE Green Recycling (ACE) to set up the world’s largest GHG emission-free battery recycling facility. The deal is worth USD12 million and is spanning a time frame of 10 years.It will be set up in Chittoor, Andhra Pradesh, India. POCL is India’s first and only 3N7 Lead brand registered on the London Metal Exchange (LME) and it has been in the metals, chemicals and battery recycling business for more than 27 years.
The traditional lead-acid battery recycling includes smelting process with temperatures of more than 1,000° C for producing significant GHG emissions. The new technology operates at room temperature and it works using electricity, produces zero GHG and releases oxygen into the air which minimizes solid waste. This would even reduce the carbon footprint on a global scale as POCL is also involved in exporting their products to international customers in South Korea, Japan, Thailand, Indonesia, the Middle East, the US and Europe.
Nischay Chadha, Co founder & CEO, ACE said in his speech that there is a huge demand for an environmentally –friendly battery recycling solution as the world’s population pushes towards more sustainable and efficient consumption and production. Vipin Tyagi, Co-founder & CTO, ACE said in his speech that “We are excited to be partnering with POCL in helping them to improve their environmental footprint”. [Source: Business Wire]
Mr. Ashish Bansal, Managing Director, POCL highlighted that the company is constantly investing in R&D to keep itself up to date with the latest technologies and ever-changing customer need. K. Kumaravel, Director of Finance, POCL has said that this partnership with ACE Green Recycling is a positive headway in the green technology space. [Source: Business Wire]
The new ACE Technology is expected to start its operation in Q4 2022 and it will scale up in phases. Over the 10 years, 30,000sqm facility is projected to recycle more than 28 million lead-acid batteries and prevent the emission of 500 million kg of GHG, prevent 40 million kg of solid waste, produce 17 million kg of enough oxygen for 55,000 people, recycle 28 million kg of plastic, and provide green jobs for the community.