Athena Technology Acquisition Corp. Ii · OTC:ATEK
Athena Technology Acquisition Corp. Ii — SPAC Merger (May 2025)
27 slides from Athena Technology Acquisition Corp. Ii's SPAC merger presentation, May 19, 2025
Slide 1: An IP-driven battery recycling technology company
An IP - driven battery recycling technology company May 2025 Ace Green Recycling, Inc.
Slide 2: Forward-looking statements
This presentation contains statements regarding Ace Green Recycling, Inc. (“Ace Green”), with whom Athena Technology Acquisition Corp. II (“Athena”) has entered into a business combination agreement to consummate a business combination (the “Business Combination”), and other matters that are forward
Slide 3: Legal Disclaimers
3 Legal Disclaimers NO OFFER OR SOLICITATION This presentation is not intended to be, and shall not constitute, an offer to buy, subscribe for or sell or the solicitation of an offer to buy, subscribe for or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale
Slide 4: Investment Highlights: Leading the green battery recycling revolution
4 Supportive Political & Economic Tailwinds • National security, economic, and sustainable initiatives have globalized the refinement of feedstock and battery production away from traditional sources in Asia • Aligns with U.S. focus on prioritizing domestic supply chain and manufacturing Investment
Slide 5: Supporting environmentally and economically sustainable domestic supply chains
5 domestic supply chains for recycled battery materials Supporting environmentally and economically sustainable
Slide 6: Ace Green Recycling – Recycling lead and lithium (LFP) batteries
6 Ace Green Recycling – Recycling lead and lithium (LFP) batteries • Green battery recycler recapturing critical materials from: ‒ Lead batteries ‒ Lithium batteries with focus on Lithium Ferro Phosphate (LFP) • Utilize a modular, fully - electrified technology with zero Scope 1 carbon emissions, ze
Slide 7: Management team
7 Vipin Tyagi CTO ⚫ 12 years in battery materials cleantech recycling ⚫ PhD in Mechanical Engineering from Texas A&M University and Bachelor of Technology in Mechanical Engineering from IIT Bombay ⚫ Co - authored several peer reviewed journal and conference publications ⚫ Ex Merrill Lynch Trader, US
Slide 8: Global footprint by 2026 with minimal capital deployment
8 With minimal capital deployment, Ace expects to have a global footprint by 2026 Ace is aiming for strong growth and displays a clear path to profitability through its hybrid deployment strategy Flagship Facility - Silsbee, Texas • Solely - owned and operated • Lead (Phase I) and LFP (Phase II) bat
Slide 9: Solely-Owned & Operated Model: flagship Silsbee, Texas facility
9 Solely - Owned & Operated Model 2 1B 1A Phase Lithium – LFP Lead Lead Battery Feedstock New Modular Expansion New Stage 2027 2027 H1 2026 Anticipated Launch 5,000 100,000 30,000 Initial Volume (equivalent Scrap Batteries in MT/year) Feedstock Ace is developing and building out its flagship U.S. re
Slide 10: The ACE Flagship Battery Recycling Facility
10 The ACE Flagship Battery Recycling Facility ACE Texas Phase I projected annual run rate 18,450 metric tons (~$40M Revenue) 1 (equivalent to 1.32% of domestic consumption) 2 Phase I machinery CAPEX: $~23 million | Steady state EBITDA: $~ 8.5 million 1 Phase II machinery CAPEX: $~50 million | Stead
Slide 11: Circular supply chain of batteries in the United States
11 Circular supply chain of batteries in the United States Battery OEMs Traders Imported lead White labelled batteries Auto companies Car shredders Smelters Makes lead ingots and sells to Supplies batteries to Auto dealerships Battery retailers Local vendors If battery replacement is required Car ow
Slide 12: Blue-chip validation from leading metals, battery, and resources firms
12 Significant blue - chip validation from leading metals, battery, and resources firms Feedstock Offtake • ACE and Glencore entered into a 15 - year offtake agreement for LIB & LAB materials • Will take effect upon commencement and completion of agreed owned & operated facility (lead and/or lithium
Slide 13: Incumbent players have faced multiple plant closures
13 Incumbent players have faced multiple plant closures Environmental pressures and industrial accidents are creating a difficult operating environment for traditional smelters North American lead production with highlighted significant plant closures 1 1,750 1,500 1,250 1,000 750 500 250 0 2,000 2,
Slide 14: Battery chemistries differ by application
14 Battery chemistries differ by application – for energy storage, mobility or personal devices - and in markets – where cheaper lead batteries (LAB) and (Lithium Ferro Phosphate) LFP batteries may be preferred over more expensive (Nickel Manganese Cobalt) NMC ones Battery materials across the chemi
Slide 15: Mining alone is insufficient, pollutive, energy inefficient and expensive
15 Mining alone is insufficient, pollutive, energy inefficient and expensive China is far ahead in the mining race, threatening to leave the U.S., Europe and India behind
Slide 16: Regulatory tailwinds driving investment into urban mining
16 Regulatory tailwinds are driving multi billion - dollar investments into urban mining, a.k.a. recycling We believe that the prioritization of a domestic supply chain will continue to catalyze the implementation of battery material recycling in the U.S. and Europe and ensure strong future demand f
Slide 17: Traditional vs Ace: the differences are clear
17 Traditional vs Ace: the differences are CLEAR Typical Recycling Smelters Ace Green Facility
Slide 18: Lead battery recycling USPs
18 Ace Green Recycling – Lead battery recycling USPs Dependence on Ace Ease of Deployment No Smelting or Slag Dumping – Ease of Permitting “GREENLEAD®” Recovery • Proprietary chemicals lock customers in with Ace for long - term deals for licensing & JV business models, providing a recurring source o
Slide 19: Lithium battery recycling USPs
19 Ace Green Recycling – Lithium battery recycling USPs Battery Agnostic No Water Dumping – Ease of Permitting Modularity “LithiumFirst ” Recovery • Proven ability to recycle all commercially - available lithium batteries (NMC, LFP, etc.) • Not dependent on OEM waste for feedstock or customer base •
Slide 20: Third-party validation of lithium and lead recycling technology
20 Both Ace’s lithium and lead battery recycling tech has 3 rd - party validation from Ace technology has proven its credentials commercially by processing 4.7 million lbs of LFP, NMC and lead batteries with zero toxic waste dumping or smelting Source: Company information. Successfully processed ove
Slide 21: Revenue sources and 5-year targets
21 (1) Audited revenues for FY 2024 ending March 2024; (2) Ace management targets 5 - Year Target 2 FY 2024 Description Revenue Source 30% 3.7% • Capture full economics and recognize full margin, powered by Ace’s recycling technology • Establish Texas facility as flagship for Ace lead (Phase I) and
Slide 22: Investment Summary: Leading the future of sustainable battery recycling
22 Investment Summary: Leading the future of sustainable battery recycling Compelling Market Opportunity • $22.3 billion lead battery recycling market by 2030 1 • $36.5 billion lithium battery recycling market by 2040 2 • Regulatory tailwinds driving adoption Near - Term Value Catalysts • Texas faci
Slide 23: Ace Green Recycling
ACEGreenRecycling | (PY i CO @
Slide 24: Anticipated timeline of Texas facility
24 H1 2027 • Commercial launch of Phase 1B lead expansion • LFP equipment delivery Anticipated timeline of Texas facility H1 2025 • Secure Silsbee, TX facility and commence permitting process • Order Phase 1A GREENLEAD® recycling equipment H2 2025 • Lead equipment delivery commencement • Inspections
Slide 25: Ace Green vs. conventional lead recovery
25 High Low Energy requirement No Yes Renewable power > 1000 o C Room temperature Operating environment No Yes Modular High Low to none EHS risk 0.5 - 1 kg/kg battery Zero Scope 1 carbon emissions No 43 kg/1000 kg battery Oxygen release 5x higher volume Very low volume Toxic waste creation 95% - 97%
Slide 26: Ace Green vs. conventional lithium recovery
26 Source: Ace Company information; *Lithium recovery is expected to be up to 75% with deployment of newer equipment (a part of capital raise) and continued R&D. Operations Environmental Impact Planning Efficiency Standard Hydro Process ( Solvent Extraction) Pyrometallurgy Ace Lithium Tech 20,000 To
Slide 27: Network of supply chain partners
27 Ace is ready to scale globally with a vast network of supply chain partners, ongoing discussions or potential partners with past relationships Select Partners Industrial Associations Select Research Partners
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