Lucosky Brookman Serves as Legal Counsel in Ace Green Recycling's Business Combination with ATAC II
Ace Green Recycling, Inc. ("Ace"), a pioneer in sustainable battery recycling technology solutions, has announced its definitive business combination agreement with Athena Technology Acquisition Corp. II (NYSE: ATEK). The transaction, which values Ace at $250 million, demonstrates continued investor confidence in the green technology sector.
The business combination will result in Ace becoming a wholly-owned subsidiary of ATAC II, with Ace's operations becoming the primary business of the combined entity
The merger highlights Ace's innovative position in the battery recycling market, featuring:
- Zero-emission recycling technology for both lead and lithium-ion batteries
- Commercial operations in India and Taiwan
- A strategic 15-year offtake agreement with Glencore
- Plans for a flagship recycling facility in Texas
The transaction is expected to close in the first half of 2025, subject to customary closing conditions including regulatory, court, and shareholder approvals. The company anticipates completing additional financing from existing insiders and various strategic investors concurrent with the closing.
Lucosky Brookman LLP served as legal counsel to Ace Green Recycling Inc. in this significant transaction. Chardan acted as exclusive financial advisor for the transaction.
This transaction positions Ace to accelerate its growth in the evolving battery recycling landscape and strengthen its market presence as a leading developer of sustainable recycling solutions.