Green giant energy texas and ace green recycling plan to develop lithium-ion recycling facility in texas

Gge enters into loi to invest $6 million as part of long-term deal to improve lithium-ion battery recycling in u.s. houston , march 2, 2023 /prnewswire/ -- green giant inc. (nasdaq: gge) ("gge", "green giant" or the "company"), today announced that ace green recycling inc. (ace), an innovative recycling platform for battery materials, and green giant energy texas inc. (gge texas), a subsidiary of gge, entered into a letter of intent (loi) for a strategic partnership to build a commercial lithium-ion battery recycling plant in the greater houston area and boost sustainable battery recycling in north america. the two companies signed a non-binding loi to form a joint venture (jv) that will develop and operate the recycling plant, which will be located on land purchased by gge texas who will also fund the build-out of the plant with a $3 million investment.
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