July 14 (Reuters) - Veteran metals trader Nishchay Chadha
has set up ACE Recycling, a company to invest in recycling firms
in emerging markets with an initial focus on biomedical waste
disposal amid the COVID-19 outbreak and trading and investment
in lead battery recycling.
Chadha, who is the chief executive of the new venture based
in Singapore, has previously worked at Viant Commodities, Kyen
Resources, Trafigura and Hindustan Zinc Limited.
"We are seeing a lot of interest in our environmentally
friendly biomedical waste treatment systems with improper waste
medical handling becoming a major issue due to Covid globally,"
Chadha said, adding "Covid is expected to support our business
due to increased awareness about solving real (environment
social and governance) issues."
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
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.
He said Siddharth Roy who was a zinc and lead trader at
Viant Commodities and Kyen Resources and who worked previously
at Hindustan Zinc Limited had also joined the company as
(Reporting by Shivani Singh; Editing by Christian Schmollinger)