A metals trader has set up a company to invest in recycling firms in emerging markets with a short-term emphasis on lead-acid batteries and a long-term focus on electric vehicles.
Nishchay Chadha has set up ACE Recycling in Singapore, with an initial focus on trading and investing in lead battery recycling.
Chadha told BEST the company was looking at global markets with an initial focus on emerging markets. “We already have some tie-ups in place with recyclers in the region and you may see us making some announcements over the coming weeks,” he said.
ACE Recycling will provide end-to-end supply chain management including, sourcing, financing, distribution, risk management and will also look for equity participation in strategic recycling projects both brownfield and greenfield, he said.
From 2020 the company will focus on lead acid batteries and biomedical waste, by 2022-2023 it will focus on non-ferrous scrap and electronic waste with a long-term view of getting into electric vehicle battery recycling and plastics wastes.
Siddharth Roy— a zinc and lead trader at Viant Commodities, Kyen Resources and worked at Hindustan Zinc Limited — has joined the company as business director.