Tabono co-founders Reon Barnard and Liran Assness
US-based recycling platform for battery materials ACE Green Recycling and South African investment business Tabono Investments have signed a term sheet to form a joint venture (JV) to build and operate two environmentally sustainable battery recycling facilities in South Africa.
Through the JV, the companies aim to enact significant change to the management of the country’s battery waste.
“Green energy is on the rise in South Africa and, with it, lead-acid and lithium-ion battery use,” Tabono co-founder Liran Assness said on December 13.
“With dedicated environment-friendly ways of recycling batteries, the world can leverage valuable materials like lead, lithium and cobalt, and power our future in a less harmful way,” Tabono’s other co-founder Reon Barnard added.
The facilities will separately process and recycle lead-acid and lithium-ion batteries using ACE’s proprietary technology that 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 JV.
Under the new structure, ACE will have 51% ownership and Tabono will own the balance.
“We are committed to ensuring emerging markets benefit from our clean battery recycling solutions. Combining our expertise with Tabono will ensure development of safe and sustainable closed-loop solutions for battery materials within South Africa,” ACE CEO and co-founder Nishchay Chadha said.
Once established, the JV 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 critical materials at high recovery yields. Tabono brings experience in the minerals and industrial services industries across Botswana, Mozambique, Tanzania and South Africa.
Earlier this year, Tabono acquired a stake in risk management, mitigation and emergency response specialist Advanced Group, which is entrenched in the mining sector.